Equation   7
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  82

        Mean of dep. var. = 6.48390      LM het. test = .133693 [.715]
   Std. dev. of dep. var. = .892827     Durbin-Watson = 2.04317 [<.819]
 Sum of squared residuals = 23.1727  Jarque-Bera test = 14.0816 [.001]
    Variance of residuals = .308969   Ramsey's RESET2 = .612327 [.436]
 Std. error of regression = .555850   F (zero slopes) = 22.3300 [.000]
                R-squared = .641287    Schwarz B.I.C. = 79.9629
       Adjusted R-squared = .612590    Log likelihood = -64.5394

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .802557       .181268       4.42746       **  [.000]
 LPRICE3   -.593875      .250842       -2.36752      *   [.020]
 LPRICE4   .923479       .301137       3.06664       **  [.003]
 LSUPPLY1  .315790       .173754       1.81745           [.073]
 LSUPPLY2  -.236731      .185373       -1.27705          [.206]
 LSUPPLY3  .154449       .124288       1.24267           [.218]
 LSUPPLY4  -.622922E-02  .072515       -.085902          [.932]


					Equation   8
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  82

        Mean of dep. var. = 6.48390      LM het. test = .493634 [.482]
   Std. dev. of dep. var. = .892827     Durbin-Watson = 1.89322 [<.997]
 Sum of squared residuals = 17.7139  Jarque-Bera test = 7.23386 [.027]
    Variance of residuals = .322071   Ramsey's RESET2 = .277134 [.601]
 Std. error of regression = .567513   F (zero slopes) = 5.59533 [.000]
                R-squared = .725657    Schwarz B.I.C. = 113.017
       Adjusted R-squared = .595967    Log likelihood = -53.5258

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .594585       .263470       2.25675       *   [.028]
 LPRICE3   -.762812      .349813       -2.18063      *   [.033]
 LPRICE4   1.17494       .408772       2.87431       **  [.006]
 LSUPPLY1  .213541       .310007       .688828           [.494]
 LSUPPLY2  -.097187      .229985       -.422582          [.674]
 LSUPPLY3  .163362       .153348       1.06530           [.291]
 LSUPPLY4  -.064132      .089260       -.718489          [.475]
 C         1.41848       2.37307       .597743           [.552]
 LTNS      -.065782      .245068       -.268425          [.789]
 LSUPPLY1  0.            0.            0.                [1.00]
 FOWNER1   .017906       .055581       .322158           [.749]
 FOWNER2   -.016951      .077188       -.219609          [.827]
 FOWNER3   .041427       .046655       .887953           [.378]
 FOWNER4   -.059828      .089272       -.670170          [.506]
 FDUMMY1   -.133552      .101990       -1.30945          [.196]
 FDUMMY2   -.124588      .065003       -1.91665          [.060]
 FDUMMY3   -.364796      .128670       -2.83512      **  [.006]
 FDUMMY4   .095658       .140724       .679755           [.499]
 FDUMMY5   -.059888      .074967       -.798858          [.428]
 FDUMMY6   -.135383      .108421       -1.24868          [.217]
 FDUMMY7   -.016236      .084004       -.193273          [.847]
 FDUMMY8   .034071       .083807       .406534           [.686]
 FDUMMY9   .017743       .107326       .165317           [.869]
 FDUMMY10  -.028728      .114412       -.251093          [.803]
 FSTAT1    1.78157       1.28227       1.38939           [.170]
 FSTAT2    .061369       .100916       .608120           [.546]
 FSTAT3    -.261420      .225115       -1.16128          [.250]


 F(20,55)  Test Statistic: 0.8474478, Upper tail area: .64854