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We provide new evidence of cyclical variation in mortgage default option exercise. For a given level of negative equity, borrower propensity to default rose markedly during the financial crisis and among hard-hit metropolitan areas. Results show that shifts in borrower behavior were more salient to crisis-period defaults than were adverse shocks to home(More)
In cloud storage systems, the index system, which maps a queried item to its storage location, is a key component. Due to the limited space in the storage nodes, it requires to compact the index for fast response. Moreover, since the index may be published on many nodes of the system, the privacy of the nodes' ownership information needs to be protected. In(More)
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