Journal of Global Economics

The global financial crisis, Spain experienced an unprecedented wave of foreclosures and evictions. The Great Recession that followed had serious economic, social, and environmental consequences. The frequency of permanent shocks in foreclosure quarterly rates is investigated in this paper. We investigate whether the foreclosure rate is a stationary series, a unit root, or stationary around a process with structural breaks. This analysis clearly shows that not all shocks have transitory effects on the foreclosure rate. The percentage of unit root rejections is around 40%, indicating both stationarity around occasional shocks with long-term effects and a unit root in which all shocks have a long-term effect on the foreclosure rate. We also look for r unit roots that permit the presence of one or two structural breaks .The majority of structural breaks are positive, and the majority of them occur after 2008, coinciding with the financial crisis and the subsequent collapse of the Spanish housing bubble. We also discover a later decrease in foreclosures in some regions, which can be attributed to the effectiveness of the 2012 Code of Good Practice for banks and financial institutions. In any case, the level of the foreclosure rate time series has not returned to levels.

Oil, natural gas, and/or coal have historically been linked to grain markets because they are used as inputs for fertiliser production or transportation costs. The recent rise in energy prices in response to significant events such as the COVID-19 pandemic and the Russia-Ukraine conflict has refocused researchers' attention. The goal of this paper is to use time series models to assess any changes in the relationships between crude oil, natural gas and grain prices, which will contribute to a review of the fuel-food relationship. Several techniques (Zivot-Andrews and Clemente, Montaés, Reyes unit root tests, Johansen's cointegration test, Toda-Yamamoto time domain causality test with time dummy variables for structural breaks and Hatemi-J asymmetric causality test) are used to account for structural breaks and regime shifts data spanning the years January 1982 to September 2022 The main conclusion is that, in light of recent developments in the respective markets, the neutrality hypothesis remains valid.