  Large-scale shell-model calculations are carried out in the model space
including neutron-hole orbitals $2p_{1/2}$, $1f_{5/2}$, $2p_{3/2}$,
$0i_{13/2}$, $1f_{7/2}$ and $0h_{9/2}$ to study the structure and
electromagnetic properties of neutron deficient Pb isotopes. An optimized
effective interaction is used. Good agreement between full shell-model
calculations and experimental data is obtained for the spherical states in
isotopes $^{194-206}$Pb. The lighter isotopes are calculated with an
importance-truncation approach constructed based on the monopole Hamiltonian.
The full shell-model results also agree well with our generalized seniority and
nucleon-pair-approximation truncation calculations. The deviations between
theory and experiment concerning the excitation energies and electromagnetic
properties of low-lying $0^+$ and $2^+$ excited states and isomeric states may
provide a constraint on our understanding of nuclear deformation and intruder
configuration in this region.
