The practice of central bank intervention: looking under the hood

This article first reviews methods of foreign exchange intervention and then presents evidence - focusing on survey results - on the mechanics of such intervention. Types of intervention, instruments, timing, amounts, motivation, secrecy and perceptions of efficacy are discussed.Banks and banking, Central ; Foreign exchange ; Monetary policy

The practice of central bank intervention: looking under the hood

This article first reviews methods of foreign exchange intervention and then presents evidence—focusing on survey results—on the mechanics of such intervention. Types of intervention, instruments, timing, amounts, motivation, secrecy, and perceptions of efficacy are discussed.Banks and banking, Central ; Foreign exchange

Looking Under the Hood : Tools for Diagnosing your Question Answering Engine

In this paper we analyze two question answering tasks : the TREC-8 question answering task and a set of reading comprehension exams. First, we show that Q/A systems perform better when there are multiple answer opportunities per question. Next, we analyze common approaches to two subproblems: term overlap for answer sentence identification, and answer typing for short answer extraction. We present general tools for analyzing the strengths and limitations of techniques for these subproblems. Our results quantify the limitations of both term overlap and answer typing to distinguish between competing answer candidates.Comment: Revision of paper appearing in the Proceedings of the Workshop on Open-Domain Question Answerin

Hatred and Profits: Getting Under the Hood of the Ku Klux Klan

The Ku Klux Klan reached its heyday in the mid-1920s, claiming millions of members. In this paper, we analyze the 1920s Klan, those who joined it, and the social and political impact that it had. We utilize a wide range of newly discovered data sources including information from Klan membership roles, applications, robe-order forms, an internal audit of the Klan by Ernst and Ernst, and a census that the Klan conducted after an internal scandal. Combining these sources with data from the 1920 and 1930 U.S. Censuses, we find that individuals who joined the Klan were better educated and more likely to hold professional jobs than the typical American. Surprisingly, we find few tangible social or political impacts of the Klan. There is little evidence that the Klan had an effect on black or foreign born residential mobility, or on lynching patterns. Historians have argued that the Klan was successful in getting candidates they favored elected. Statistical analysis, however, suggests that any direct impact of the Klan was likely to be small. Furthermore, those who were elected had little discernible effect on legislation passed. Rather than a terrorist organization, the 1920s Klan is best described as a social organization built through a wildly successful pyramid scheme fueled by an army of highly-incentivized sales agents selling hatred, religious intolerance, and fraternity in a time and place where there was tremendous demand.