And the Oscar goes to ..... Peeeeedrooooo! Aray, Henry Agnani, Betty Movie production SUR model Oscar Awards Cobb-Douglas Production Function In this article we are interested in how the production of Spanish feature films reacts to an Oscar award. We use time series data for the 1953-2008 period and estimate a production function assuming that the Oscar effect accrues through an augmenting input factor. We consider a lag structure that allows the Oscar to have a diminishing effect over time. In general our evidence supports a positive Oscar effect. Nevertheless, the only significant Oscar award at the 1% and 5% levels is that of Talk to Her, which Penélope Cruz euphorically announced with her celebrated cry. 2014-04-30T12:32:40Z 2014-04-30T12:32:40Z 2007 report Aray, H.; Agnani, B. And the Oscar goes to ..... Peeeeedrooooo!. Universidad de Granada. Departamento de Teoría e Historia Económica (2007). (The Papers; 07/03). [http://hdl.handle.net/10481/31499] http://hdl.handle.net/10481/31499 eng The Papers;07/03 http://creativecommons.org/licenses/by-nc-nd/3.0/ open access Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License Universidad de Granada. Departamento de Teoría e Historia Económica