Before regression (like fixed-effects, random-effects), for these two kinds of variables:
1) Price levels (e.g. price level of capital formation) They are usually ratios like 0.987, 1.022..., based on USA 2010=1
2) % of GDP (e.g. broad money as % of GDP) They are also ratios (%) like 80.5, 99.7 (or in decimal form 0.805, 0.997)
Do I need to log transform them, and how can I log transform them?