Equation  23
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  651

        Mean of dep. var. = 5.63442      LM het. test = 4.85947 [.027]
   Std. dev. of dep. var. = 1.07770     Durbin-Watson = 1.88540 [<.085]
 Sum of squared residuals = 412.022  Jarque-Bera test = 37.7427 [.000]
    Variance of residuals = .635837   Ramsey's RESET2 = 5.63244 [.018]
 Std. error of regression = .797394   F (zero slopes) = 269.657 [.000]
                R-squared = .455520    Schwarz B.I.C. = 784.553
       Adjusted R-squared = .453840    Log likelihood = -774.835

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .883229       .029768       29.6706       **  [.000]
 LSUPPLY1  .039505       .045179       .874427           [.382]
 LSUPPLY2  .221266       .045190       4.89639       **  [.000]


					Equation  24
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  651

        Mean of dep. var. = 5.63442      LM het. test = 5.75188 [.016]
   Std. dev. of dep. var. = 1.07770     Durbin-Watson = 1.96269 [<.763]
 Sum of squared residuals = 383.098  Jarque-Bera test = 27.8076 [.000]
    Variance of residuals = .610029   Ramsey's RESET2 = 1.32170 [.251]
 Std. error of regression = .781043   F (zero slopes) = 27.7066 [.000]
                R-squared = .492544    Schwarz B.I.C. = 825.646
       Adjusted R-squared = .474767    Log likelihood = -751.143

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .763895       .042437       18.0005       **  [.000]
 LSUPPLY1  -.375017      .146375       -2.56202      *   [.011]
 LSUPPLY2  .183177       .045800       3.99950       **  [.000]
 C         1.20323       .589713       2.04036       *   [.042]
 LTNS      .370163       .146187       2.53212       *   [.012]
 LSUPPLY1  0.            0.            0.                [1.00]
 FOWNER1   -.048998      .053156       -.921767          [.357]
 FOWNER2   -.012853      .039868       -.322393          [.747]
 FOWNER3   .029795       .042876       .694897           [.487]
 FOWNER4   .027758       .031135       .891516           [.373]
 FDUMMY1   .042555       .034787       1.22332           [.222]
 FDUMMY2   -.023103      .034648       -.666785          [.505]
 FDUMMY3   .029967       .031535       .950268           [.342]
 FDUMMY4   -.645202E-02  .029295       -.220243          [.826]
 FDUMMY5   .114182E-02   .030954       .036887           [.971]
 FDUMMY6   .025323       .030192       .838735           [.402]
 FDUMMY7   -.021419      .030948       -.692095          [.489]
 FDUMMY8   .033053       .031428       1.05168           [.293]
 FDUMMY9   .388205E-03   .030527       .012717           [.990]
 FDUMMY10  -.099857      .029386       -3.39808      **  [.001]
 FSTAT1    -.015745      .025344       -.621222          [.535]
 FSTAT2    .055033       .029756       1.84945           [.065]
 FSTAT3    .038791       .032199       1.20472           [.229]


 F(20,628)  Test Statistic: 2.370742, Upper tail area: .00072