Failure-Oblivious Computing and Boundless Memory Blocks

Memory errors are a common cause of incorrect software execution and security vulnerabilities. We have developed two new techniques that help software continue to execute successfully through memory errors: failure-oblivious computing and boundless memory blocks. The foundation of both techniques is a compiler that generates code that checks accesses via pointers to detect out of bounds accesses. Instead of terminating or throwing an exception, the generated code takes another action that keeps the program executing without memory corruption. Failure-oblivious code simply discards invalid writes and manufactures values to return for invalid reads, enabling the program to continue its normal execution path. Code that implements boundless memory blocks stores invalid writes away in a hash table to return as the values for corresponding out of bounds reads. he net effect is to (conceptually) give each allocated memory block unbounded size and to eliminate out of bounds accesses as a programming error. We have implemented both techniques and acquired several widely used open source servers (Apache, Sendmail, Pine, Mutt, and Midnight Commander).With standard compilers, all of these servers are vulnerable to buffer overflow attacks as documented at security tracking web sites. Both failure-oblivious computing and boundless memory blocks eliminate these security vulnerabilities (as well as other memory errors). Our results show that our compiler enables the servers to execute successfully through buffer overflow attacks to continue to correctly service user requests without security vulnerabilities.

Whither Japan's Economy?

The Japanese economy entered a long recession in spring 1997. Its economic growth has been much lower than in the US and the EU despite large fiscal stimulus packages, a monetary policy which has brought interest rates to zero since 1999, injections of public money to recapitalize banks, and programs of liberalization and deregulation. How could all these policies have failed to bring the Japanese economy back on a sustainable growth path? This paper argues that the failure of Japan's efforts to restore a sound economic environment is the result of having deliberately chosen inappropriate and inadequate monetary and fiscal instruments to tackle the macroeconomic and structural problems that have burdened the Japanese economy since the burst of the financial bubble at the beginning of the 90s. These choices were deliberate, since the "right" policies (in primis the resolution of the banking crisis) presented unbearable political costs, not only for the ruling parties, but also for the bureaucratic and business elites. The misfortunes of the Japanese economy during the long recession not only allow us to draw important economic policy lessons, but also stimulate reflections on the disruptive role on economic policies caused by powerful vested interests when an economy needs broad and deep structural changes. The final part of the paper focuses on ways to tackle Japan's banking crisis. In particular, it explores the Scandinavian solution, which, mutatis mutandis, might serve Japanese policy-makers well.