02193cas a2200277 a 4500 AALejournalIMF016176 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513527031 2522-7912 BD-DhAAL BD-DhAAL Eyraud, Luc. How to Design Subnational Fiscal Rules : A Primer / Luc Eyraud, Andrew Hodge, John Ralyea, Julien Reynaud. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (29 pages) IMF How To Notes <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This note discusses how to design subnational fiscal rules, including how to select them and calibrate them. It expands on the guidance provided at the national level on rule selection and calibration in IMF (2018a) and IMF (2018b). Thinking on subnational fiscal rules is still evolving, including their effectiveness (for example, Heinemann, Moessinger, and Yeter 2018; Kotia and Lledo 2016; Foremny 2014), and this note only provides a first analysis based on international experiences and the technical assistance provided by the IMF. Main findings are summarized in Box 1. The note is divided into five sections. The first section defines fiscal rules. The second section discusses the rationale for subnational rules. The third section provides some guidance on how to select the appropriate rule(s) and whether they should differ across individual jurisdictions. The fourth section explores the issue of flexibility by looking at how rules should adjust to shocks. Finally, the last section focuses on the 'calibration' of the rules. Mode of access: Internet Hodge, Andrew. Ralyea, John. Reynaud, Julien. IMF How To Notes; How-To Note ; No. 2020/001 Full text available on IMF http://elibrary.imf.org/view/journals/061/2020/001/061.2020.issue-001-en.xml IMF e-Library