International oil price shocks have asymmetric impacts on domestic growth and inflation. Price-based shocks have a non-linear effect on the economy, with rising oil prices slowing down growth and increasing inflation, while falling prices have no impact. Quantity-based shocks, on the other hand, symmetrically affect the economy, with both rising and falling prices having no effect on growth but impacting inflation in opposite directions. Rising oil prices increase inflation, while falling prices decrease it. Overall, price-based shocks have a larger impact on the economy compared to quantity-based shocks.