The impact of oil shocks on the economy of the Republic of Belarus
The article analyzes the impact of oil shocks on the state of such macroeconomic indicators of the Belarusian economy as the real GDP, exchange rate and inflation. The classification of oil shocks into external and internal shocks is proposed, the transmission mechanism of their distribution is described. The result of the analysis is the description of the impact of internal and external oil shocks on the macroeconomic indicators of the Belarusian economy, as well as recommendations on enhancing the resistance of the economy of the Republic of Belarus to oil shocks.