Equation  13
					restricted
					============

			Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  181

        Mean of dep. var. = 6.02636      LM het. test = .348698 [.555]
   Std. dev. of dep. var. = .932947     Durbin-Watson = 1.68941 [<.026]
 Sum of squared residuals = 61.8782  Jarque-Bera test = 10.9473 [.004]
    Variance of residuals = .347630   Ramsey's RESET2 = 1.25988 [.263]
 Std. error of regression = .589602   F (zero slopes) = 136.340 [.000]
                R-squared = .605081    Schwarz B.I.C. = 167.489
       Adjusted R-squared = .600643    Log likelihood = -159.692

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .879825       .049387       17.8148       **  [.000]
 LSUPPLY1  .249357       .053151       4.69145       **  [.000]
 LSUPPLY2  .011588       .054397       .213026           [.832]


					Equation  14
					unrestricted
					============


                       Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  181

        Mean of dep. var. = 6.02636      LM het. test = .377466 [.539]
   Std. dev. of dep. var. = .932947     Durbin-Watson = 1.87518 [<.877]
 Sum of squared residuals = 48.7781  Jarque-Bera test = 1.13894 [.566]
    Variance of residuals = .308722   Ramsey's RESET2 = .358066 [.550]
 Std. error of regression = .555628   F (zero slopes) = 15.8854 [.000]
                R-squared = .688657    Schwarz B.I.C. = 197.946
       Adjusted R-squared = .645306    Log likelihood = -138.163

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .779962       .074650       10.4482       **  [.000]
 LSUPPLY1  .129740       .202789       .639777           [.523]
 LSUPPLY2  .026149       .053384       .489828           [.625]
 C         -.663892      1.68963       -.392921          [.695]
 LTNS      .179593       .237435       .756387           [.451]
 LSUPPLY1  0.            0.            0.                [1.00]
 FOWNER1   -.028984      .077902       -.372055          [.710]
 FOWNER2   .031098       .078615       .395570           [.693]
 FOWNER3   .040767       .045688       .892300           [.374]
 FOWNER4   .017528       .059158       .296290           [.767]
 FDUMMY1   -.028933      .061966       -.466909          [.641]
 FDUMMY2   .045059       .042258       1.06629           [.288]
 FDUMMY3   -.032794      .069442       -.472242          [.637]
 FDUMMY4   .061579       .047938       1.28455           [.201]
 FDUMMY5   .048210       .042589       1.13198           [.259]
 FDUMMY6   -.043196      .046141       -.936169          [.351]
 FDUMMY7   -.088557      .045146       -1.96156          [.052]
 FDUMMY8   .098573       .057329       1.71942           [.087]
 FDUMMY9   .096551       .039116       2.46831       *   [.015]
 FDUMMY10  -.162859      .062258       -2.61587      **  [.010]
 FSTAT1    .733788       .448191       1.63722           [.104]
 FSTAT2    .203762       .145702       1.39849           [.164]
 FSTAT3    -.034654      .095233       -.363887          [.716]


 F(20,158)  Test Statistic: 2.121663, Upper tail area: .00551