Fake bold and italics in emacs

Question

Is there a way to make emacs fake bold and italic styles for fonts that don't have them? Generally, programs will make fake bold and italic styles for fonts by shearing them and increasing stroke width if the font doesn't provide an actual italic or bold style, but emacs doesn't seem to do this by default. If I set the :slant property for a face using :family "Source Code Pro", for example, it is just ignored, because Source Code Pro does not provide an actual italic variant.