The article examines how different monetary rules affect Bolivia's economy when faced with various types of shocks. By using a model that considers factors like government spending, productivity, and foreign demand, the researchers found that a Taylor rule focusing on inflation targeting is more effective than a fixed exchange rate regime. However, when only inefficient shocks are considered, an exchange rate peg performs better. This suggests that different monetary policies can have varying impacts depending on the type of shocks the economy faces.