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Avec Patria mia, Pound dresse un portrait enthousiaste des Etats-Unis dont il loue l’optimisme impérissable, la fierté de sa richesse et de son sens pratique. Mais il émet aussi des critiques parfois âpres à l’encontre des revues littéraires formatées au goût du jour et surtout des universités qui offrent un enseignement de plus en plus spécialisé au détriment d’une formation humaniste propice au développement d’une pensée libre.Cet essai inédit est rédigé au moment où Londres et Paris se disputent les expérimentations littéraires et artistiques les plus novatrices. Lorsqu’il développe ces réflexions, Pound vient de connaître une percée poétique en donnant naissance à l’Imagisme, mouvement s’affranchissant de la tradition victorienne et proposant un renouvellement radical de la poésie. Il est aussi devenu le correspondant en Europe pour la revue Poetry, devenant ainsi un exilé, tels Whistler ou Henry James. Mais s’il s’éloigne de son pays, c’est pour mieux le servir et participer activement à sa renaissance intellectuelle qu’il pressent comme imminente et dont il perçoit par exemple les germes dans l’essor architectural de la ville de New York.Dans ce combat ouvert contre l’inertie culturelle de ses compatriotes, ce qu’il l’importe c’est l’avenir de la littérature américaine et de la vie culturelle de son pays. Ces pages témoignent de l’attachement profond qui lie le poète à celui-ci.

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This paper inquires into how individual attitudes to climate issues and support for climate policies have evolved in the context of the pandemic. Using data from a unique survey of 14,500 individuals across 16 major economies, this study shows that the experience of the COVID-19 pandemic increased concern for climate change and public support for green recovery policies. This suggests that the global health crisis has opened up more space for policy makers in key large economies to implement bolder climate policies. The study also finds that support for climate policies decreases when a person has experienced income and/or job loss during the pandemic. Protecting incomes and livelihoods in the near-term is thus important also from a climate policy perspective.

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Central banks around the world are increasingly exploring central bank digital currencies (CBDCs). This paper investigates the possible impacts of cross-border CBDCs on capital flows and financial stability in a simple open economy extension of a classical model of bank runs, augmented with the presence of a credible foreign central bank, which issues an account-based interest bearing CBDC available to nonresidents. The paper finds that the presence of a foreign CBDC which acts as an international safe asset may increase the risk of financial disintermediation in the domestic banking sector, which can be accompanied by higher and more volatile capital flows.

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We study e-commerce across 47 economies and 26 industries during the COVID-19 pandemic using aggregated and anonymized transaction-level data from Mastercard, scaled to represent total consumer spending. The share of online transactions in total consumption increased more in economies with higher pre-pandemic e-commerce shares, exacerbating the digital divide across economies. Overall, the latest data suggest that these spikes in online spending shares are dissipating at the aggregate level, though there is variation across industries. In particular, the share of online spending in professional services and recreation has fallen below its pre-pandemic trend, but we observe a longer-lasting shift to digital in retail and restaurants.

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Personal Income Tax (PIT) is one of the key sources of revenues in Advanced Economies (AEs) but plays a much more limited role in Low-Income Developing Countries (LIDCs) and Emerging Market Economies (EMEs), both in terms of revenue and redistributive impact. Notwithstanding, this paper shows that LIDCs and EMEs increased their PIT-to-GDP revenue by 110 and 48 percent, respectively, during the 1990-2019 period, a marked improvement in the PIT revenue performance. We find that this rise was driven primarily by economic developments and to a lesser extent by changes in the design of PIT systems. We also find that LIDCs that improved their tax-to-GDP ratios relied on a broader set of tax instruments and not exclusively on the PIT, suggesting that a successful revenue mobilization strategy of developing countries requires a comprehensive approach covering a wider range of taxes. Finally, using a newly assembled dataset of PIT characteristics of 157 countries over the 2006-2018 period, we estimate a novel redistribution index of the PIT in LIDCs. We show that the contribution of the PIT to inequality reductions has been significant.

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