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During the COVID-19 pandemic, regions were affected by a combination of economic crises: weak demand and constrained supply. Several studies have sought to analyse the heterogeneous effects of supply and demand shocks on the labour market, economic growth, and the environment. This study has a different focus, estimating both direct and indirect effects of demand and supply shocks adopted during the pandemic in Brazil and Chile. Afterwards, the paper compares the degree of regional absorption (leakage) of income resulting from each of these shocks, applying an interregional input–output model for each country. The results of this study show that income absorption by the poorest regions is relatively greater in the case of a supply shock. It can be said, therefore, that this type of shock improves the retention of income generated in the poorest regions, favouring the development of these localities and the reduction in regional inequalities. The main reason for this result is that supply policies have restricted essential sectors to a lesser extent, and these sectors are generally less concentrated in large urban centres in both Brazil and Chile. In other words, much of the interregional leakage is driven by the demand for non-essential products, mainly in the richest urban economy centres. Finally, the geographical dimension of regional inequalities leads to the economic benefit of prosperous areas in the country when shocks occur in vulnerable regions, highlighting the centre–periphery pattern in both countries. [ABSTRACT FROM AUTHOR]

Objective - This paper aims to revisit the relationship between the Latin American and U.S. stock markets during the Covid-19 pandemic. Methodology-The dynamic connectivity between these markets was estimated by implementing the time-varying VAR model (TVP-VAR) for daily data from January 2010 to June 2021. Results - There are three main results. First, although spillovers from each market accounted for most of their variance, exchanges were not entirely independent of each other. Second, the U.S. and Brazil were net transmitters of spillovers, while Argentina and Chile were net receivers. Finally, the magnitude of net spillovers is not high enough to characterize a contagion effect. Practical implications - The inclusion of Latin American stock markets in the scope of Covid-19 studies is an important contribution to the literature that often neglects Latin American markets in its samples. Originality - The study of the connection between markets in the presence of Covid-19 differs from most that focus exclusively on the impact of Covid-19. Understanding the relationship between Latin American and U.S. markets in the presence of a crisis unlike any that has occurred before can help investors in their investment strategies and policymakers, governments, and monetary authorities interested in the integration or disintegration between markets. [ABSTRACT FROM AUTHOR]

Committed to achieving carbon neutrality by mid-century, South America faces unique challenges in carbon mitigation due to its distinct socio-economic, technological, and institutional backgrounds compared to developed and other developing economies. Previous research on South America's carbon emissions has limited country and sector coverage and typically adopts a top-down approach that focuses on the overall emissions of an economy, neglecting individual energy sources and emission sectors. Therefore, this paper compiles a comprehensive inventory of CO 2 emissions for South American countries based on a meticulous bottom-up approach and multi-source data integration, followed by a thorough analysis of their temporal evolution patterns and the driving forces behind them. Between 2010 and 2020, South America's overall emissions peaked in 2014 at 1092.3 Mt., led by emissions from oil consumption and from the transport and electricity sectors, and dropped to 865.6 Mt. in 2020, due to the economic fluctuations and COVID-19. Specifically, Brazil was the largest emitter, Chile experienced the most significant increase in emissions, and Paraguay recorded the highest emission growth rate. Generally, expanding population was constant driver of emission growth. High energy intensity led to significant emission increases in Brazil and Ecuador, while elevated carbon intensity was the main driver in Argentina. Energy structure changes played a positive role in most countries to different extents (e.g., much more significant in Brazil than in Chile) but aggrevated emissions in Paraguay and Guyana. Therefore, carbon mitigation strategies should be tailored to each country's unique national circumstances. • During 2010–2020, South America's CO 2 emissions from fossil fuels peaked in 2014. • Transport and electricity sectors comprised over 60% of total emissions. • Brazil was the top emitter, while Chile saw the largest increase in emissions. • Emission patterns and driving factors varied significantly across countries. • Carbon reduction strategies should be tailored to local circumstances. [ABSTRACT FROM AUTHOR]