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Medici Women
The ducal court of Cosimo I de' Medici in sixteenth-century Florence was one of absolutist, rule-bound order. Portraiture especially served the dynastic pretensions of the absolutist ruler, Duke Cosimo and his consort, Eleonora di Toledo, and was part of a Herculean programme of propaganda to establish legitimacy and prestige for the new sixteenth-century Florentine court. In this engaging and original study, Gabrielle Langdon analyses selected portraits of women by Jacopo Pontormo, Agnolo Bronzino, Alessandro Allori, and other masters. She defines their function as works of art, as dynastic declarations, and as encoded documents of court culture and propaganda, illuminating Cosimo's conscio...
Murder of a Medici Princess
Murphy illuminates the brilliant life and tragic death of Isabella de Medici, one of the brightest stars in the dazzling world of Renaissance Italy. The author's fast-paced narrative captures the intrigue, scandal, romantic affairs, and the violence that were commonplace in the Florentine court.
This Suffering Is My Joy
Tracing the little-known history of the first underground Catholic church in China, noted scholar D. E. Mungello illuminates the period between the imperial expulsion of foreign Christian missionaries in 1724 and their return with European colonialism in the 1800s. Few realize that this was the first time in which Chinese, rather than Europeans, came to control their own church as Chinese clergy and lay leaders maintained communities of clandestine Catholics. Mungello follows the church in a time of persecution, focusing in particular on the role of Chinese clergy and lay leaders in maintaining communities of clandestine Catholics during the eighteenth century. He highlights the parallels be...
Harnessing Renewables in Sub-Saharan Africa
Sub-Saharan Africa needs to significantly accelerate its electricity generation. While hydropower is prominent in some countries, solar and wind power generation has lagged other world regions, even though sub-Saharan Africa has some of the most favorable conditions. A mix of domestic and external financing can increase both renewable electricity generation and GDP. In a scenario where about $25 bn in climate finance flows are allocated annually to renewable energy, renewable electricity production could be up to 24 percent higher than in a scenario excluding this financing, and annual GDP growth would be boosted by 0.8 percentage point on average over the next decade, accompanied by stronger labor demand in the electricity sector. Policies can help catalyze climate finance. An ambitious package of governance, business regulations, and external sector reforms is associated with a 20 percent increase in climate finance flows and a 7 percent increase in electricity generation over five years. In addition, implementing climate policies is linked to increases in green foreign direct investment announcements and green electricity production.
A Companion to Cosimo I de’ Medici
Mining the rich documentary sources housed in Tuscan archives and taking advantage of the breadth and depth of scholarship produced in recent years, the seventeen essays in this Companion to Cosimo I de' Medici provide a fresh and systematic overview of the life and career of the first Grand Duke of Tuscany, with special emphasis on Cosimo I's education and intellectual interests, cultural policies, political vision, institutional reforms, diplomatic relations, religious beliefs, military entrepreneurship, and dynastic concerns. Contributors: Maurizio Arfaioli, Alessio Assonitis, Nicholas Scott Baker, Sheila Barker, Stefano Calonaci, Brendan Dooley, Daniele Edigati, Sheila ffolliott, Catherine Fletcher, Andrea Gáldy, Fernando Loffredo, Piergabriele Mancuso, Jessica Maratsos, Carmen Menchini, Oscar Schiavone, Marcello Simonetta, and Henk Th. van Veen.
Modeling the U.S. Climate Agenda: Macro-Climate Trade-offs and Considerations
The run up to the 26th Climate Change Conference has brought tackling climate change to the fore of global policy making. In this context, the U.S. administration has recently unveiled new climate targets. This paper elaborates on the administration’s plans and uses two models developed at the IMF to illustrate key macro-climate trade-offs. First, a model with endogenous fuel-specific technological change shows that subsidies cannot substitute for explicit carbon pricing and that even a moderate carbon tax can greatly economize on the overall fiscal cost of the package. Second, a rich sectoral model shows that there are only very marginal economic costs from front-loading the decarbonizati...
Structural Reforms to Accelerate Growth, Ease Policy Trade-offs, and Support the Green Transition in Emerging Market and Developing Economies
In the aftermath of the COVID-19 pandemic, emerging market and developing economies are grappling with economic scarring, social tension, and reduced policy space. Policy actions are already urgently needed to boost growth in the near term and support the ongoing green transition. At the same time, high public debt and persistently high inflation have constrained policy space, posing difficult policy trade-offs. This Staff Discussion Note focuses on emerging market and developing economies and proposes a framework for prioritization, packaging, and sequencing of macrostructural reforms to accelerate growth, alleviate policy trade-offs, and support the green transition. The note shows that pr...
Digitalization During the COVID-19 Crisis
Digitalization induced by the pandemic was seen both as a possible silver-lining from the crisis that could increase longer-term productivity and a risk for further labor market inequality between digital and non-digital workers. The note shows that the pandemic accelerated digitalization and triggered a partial catch-up by less digitalized entities in advanced economies. Higher digitalization levels shielded substantially productivity and hours worked during the crisis. However, the extent to which the pandemic-induced digitalization led to structural change in the economy is less clear. Less digitalized sectors have rebounded more strongly, albeit after stronger declines, and while workers in digital occupations were more shielded from the crisis, there does not appear to be a structural change in the composition of labor demand. Meanwhile, shifts in labor supply are more likely to be permanent, driven by the increase in working from home.
Winning the War? New Evidence on the Measurement and the Determinants of Poverty in the United States
Using micro-data from household expenditure surveys, we document the evolution of consumption poverty in the United States over the last four decades. Employing a price index that appears appropriate for low income households, we show that poverty has not declined materially since the 1980s and even increased for the young. We then analyze which social and economic factors help explain the extent of poverty in the U.S. using probit, tobit, and machine learning techniques. Our results are threefold. First, we identify the poor as more likely to be minorities, without a college education, never married, and living in the Midwest. Second, the importance of some factors, such as race and ethnicity, for determining poverty has declined over the last decades but they remain significant. Third, we find that social and economic factors can only partially capture the likelihood of being poor, pointing to the possibility that random factors (“bad luck”) could play a significant role.
