Equation  25
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  612

        Mean of dep. var. = 5.63011      LM het. test = 4.08564 [.043]
   Std. dev. of dep. var. = 1.08042     Durbin-Watson = 1.91335 [<.193]
 Sum of squared residuals = 333.604  Jarque-Bera test = 31.1455 [.000]
    Variance of residuals = .549595   Ramsey's RESET2 = .417191E-02 [.949]
 Std. error of regression = .741347   F (zero slopes) = 172.683 [.000]
                R-squared = .532271    Schwarz B.I.C. = 698.758
       Adjusted R-squared = .529188    Log likelihood = -682.717

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .442412       .055689       7.94430       **  [.000]
 LPRICE3   .369226       .038446       9.60370       **  [.000]
 LSUPPLY1  -.125566      .046462       -2.70257      **  [.007]
 LSUPPLY2  .260465       .051016       5.10556       **  [.000]
 LSUPPLY3  .167580       .038403       4.36369       **  [.000]


					Equation  26
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  612

        Mean of dep. var. = 5.63011      LM het. test = 5.33600 [.021]
   Std. dev. of dep. var. = 1.08042     Durbin-Watson = 1.95517 [<.783]
 Sum of squared residuals = 312.658  Jarque-Bera test = 32.8334 [.000]
    Variance of residuals = .532637   Ramsey's RESET2 = .836297 [.361]
 Std. error of regression = .729820   F (zero slopes) = 31.3353 [.000]
                R-squared = .561629    Schwarz B.I.C. = 743.083
       Adjusted R-squared = .543706    Log likelihood = -662.874

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .430562       .057929       7.43261       **  [.000]
 LPRICE3   .357053       .041558       8.59158       **  [.000]
 LSUPPLY1  -.403606      .139146       -2.90059      **  [.004]
 LSUPPLY2  .235082       .051864       4.53265       **  [.000]
 LSUPPLY3  .164639       .038797       4.24358       **  [.000]
 C         -.407006      .599107       -.679354          [.497]
 LTNS      .343492       .138358       2.48262       *   [.013]
 LSUPPLY1  0.            0.            0.                [1.00]
 FOWNER1   -.060076      .050317       -1.19395          [.233]
 FOWNER2   -.141023E-02  .037835       -.037273          [.970]
 FOWNER3   .020472       .041803       .489720           [.625]
 FOWNER4   .024187       .029670       .815204           [.415]
 FDUMMY1   .018316       .034454       .531612           [.595]
 FDUMMY2   -.075770      .033574       -2.25678      *   [.024]
 FDUMMY3   -.022967      .030649       -.749368          [.454]
 FDUMMY4   -.016854      .028559       -.590163          [.555]
 FDUMMY5   .012269       .029535       .415401           [.678]
 FDUMMY6   .031694       .029506       1.07415           [.283]
 FDUMMY7   -.012069      .029807       -.404886          [.686]
 FDUMMY8   .018246       .030995       .588688           [.556]
 FDUMMY9   -.012944      .029836       -.433847          [.665]
 FDUMMY10  -.071265      .028704       -2.48271      *   [.013]
 FSTAT1    -.629585E-02  .023768       -.264890          [.791]
 FSTAT2    .090138       .034324       2.62609       **  [.009]
 FSTAT3    .038584       .031021       1.24382           [.214]


 F(20,587)  Test Statistic: 1.966290, Upper tail area: .00738