Equation  21
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  665

        Mean of dep. var. = 5.64136          LM het. test = .273792E-03 [.987]
   Std. dev. of dep. var. = 1.07494         Durbin-Watson = 1.82851 [<1.00]
 Sum of squared residuals = 767.251      Jarque-Bera test = 10.0936 [.006]
    Variance of residuals = 1.15550       Ramsey's RESET2 = .850706E+38 [.000]
 Std. error of regression = 1.07494        Schwarz B.I.C. = 994.400
                R-squared = .180339E-29    Log likelihood = -991.151
       Adjusted R-squared = 0.

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 C         5.64136       .041684       135.335       **  [.000]


					Equation  22
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  665

        Mean of dep. var. = 5.64136      LM het. test = .074977 [.784]
   Std. dev. of dep. var. = 1.07494     Durbin-Watson = 1.97087 [<.740]
 Sum of squared residuals = 594.902  Jarque-Bera test = 3.31877 [.190]
    Variance of residuals = .922329   Ramsey's RESET2 = .144696 [.704]
 Std. error of regression = .960380   F (zero slopes) = 9.83484 [.000]
                R-squared = .224631    Schwarz B.I.C. = 971.555
       Adjusted R-squared = .201791    Log likelihood = -906.557

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 C         6.43370       .619766       10.3808       **  [.000]
 LTNS      1.18811       .167614       7.08838       **  [.000]
 LSUPPLY1  -1.28330      .159968       -8.02223      **  [.000]
 FOWNER1   -.092615      .063867       -1.45011          [.148]
 FOWNER2   -.090322      .048513       -1.86180          [.063]
 FOWNER3   .032986       .050819       .649094           [.517]
 FOWNER4   -.031249      .038044       -.821400          [.412]
 FDUMMY1   .141401       .041790       3.38358       **  [.001]
 FDUMMY2   .057997       .041813       1.38706           [.166]
 FDUMMY3   .114626       .037679       3.04221       **  [.002]
 FDUMMY4   .059078       .035265       1.67528           [.094]
 FDUMMY5   -.873807E-03  .038019       -.022984          [.982]
 FDUMMY6   .022129       .036319       .609289           [.543]
 FDUMMY7   -.022846      .037209       -.613995          [.539]
 FDUMMY8   -.019382      .038247       -.506763          [.612]
 FDUMMY9   .021258       .037354       .569084           [.569]
 FDUMMY10  -.163449      .035541       -4.59888      **  [.000]
 FSTAT1    -.939391E-02  .031150       -.301572          [.763]
 FSTAT2    -.404448E-02  .036317       -.111367          [.911]
 FSTAT3    .010613       .039226       .270557           [.787]


 F(19,645)  Test Statistic: 9.834844, Upper tail area: .00000