In this paper, I develop a population-based Markov chain Monte Carlo (MCMC) algorithm known as parallel tempering to estimate dynamic stochastic general equilibrium (DSGE) models. Parallel tempering approximates the posterior distribution of interest using a family of Markov chains with tempered...

Cover -- Half Title -- Series -- Title -- Copyright -- Contents -- List of figures -- List of tables -- List of contributors -- Introduction -- Statement by the American Statistical Association on statistical significance and p-value - use in the book -- Acknowledgements -- 1 Basic operations in...