Equation   1
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  97

        Mean of dep. var. = 6.58689          LM het. test = -.010865 [1.00]
   Std. dev. of dep. var. = .944869         Durbin-Watson = 1.72647 [<1.00]
 Sum of squared residuals = 85.7067      Jarque-Bera test = 3.33049 [.189]
    Variance of residuals = .892778       Ramsey's RESET2 = .850706E+38 [.000]
 Std. error of regression = .944869        Schwarz B.I.C. = 133.921
                R-squared = .768597E-32    Log likelihood = -131.634
       Adjusted R-squared = 0.

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 C         6.58689       .095937       68.6586       **  [.000]


					Equation   2
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  97

        Mean of dep. var. = 6.58689      LM het. test = .016860 [.897]
   Std. dev. of dep. var. = .944869     Durbin-Watson = 1.96484 [<.979]
 Sum of squared residuals = 47.6750  Jarque-Bera test = 1.18822 [.552]
    Variance of residuals = .619156   Ramsey's RESET2 = .901963 [.345]
 Std. error of regression = .786865   F (zero slopes) = 3.23290 [.000]
                R-squared = .443743    Schwarz B.I.C. = 148.934
       Adjusted R-squared = .306484    Log likelihood = -103.187

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 C         8.79041       2.03023       4.32976       **  [.000]
 LTNS      .170858       .299559       .570363           [.570]
 LSUPPLY1  -.334461      .279734       -1.19564          [.236]
 FOWNER1   -.048423      .063508       -.762467          [.448]
 FOWNER2   -.051946      .095691       -.542850          [.589]
 FOWNER3   .037529       .053632       .699758           [.486]
 FOWNER4   -.193048      .095878       -2.01347      *   [.048]
 FDUMMY1   -.039841      .107548       -.370447          [.712]
 FDUMMY2   .058913       .074947       .786058           [.434]
 FDUMMY3   -.376250      .152622       -2.46524      *   [.016]
 FDUMMY4   .198319       .173249       1.14471           [.256]
 FDUMMY5   .054096       .093593       .577990           [.565]
 FDUMMY6   -.036168      .118577       -.305021          [.761]
 FDUMMY7   -.045261      .095499       -.473945          [.637]
 FDUMMY8   .046319       .077596       .596926           [.552]
 FDUMMY9   .399976E-02   .098911       .040438           [.968]
 FDUMMY10  -.241169      .138297       -1.74385          [.085]
 FSTAT1    3.21301       .729177       4.40635       **  [.000]
 FSTAT2    -.076936      .117931       -.652380          [.516]
 FSTAT3    -.289578      .192743       -1.50240          [.137]


 F(19,77)  Test Statistic: 3.232900, Upper tail area: .00014