Equation   1
					restristed
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  92

        Mean of dep. var. = 5.93754      LM het. test = 0. [1.00]
   Std. dev. of dep. var. = 1.11986     Durbin-Watson = 1.47885 [<1.00]
 Sum of squared residuals = 114.121  Jarque-Bera test = 5.31466 [.070]
    Variance of residuals = 1.25408   Ramsey's RESET2 = .850706E+38 [.000]
 Std. error of regression = 1.11986    Schwarz B.I.C. = 142.715
                R-squared = 0.         Log likelihood = -140.454
       Adjusted R-squared = 0.

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 C         5.93754       .116753       50.8556       **  [.000]


					Equation   2
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  92

        Mean of dep. var. = 5.93754      LM het. test = 3.52380 [.060]
   Std. dev. of dep. var. = 1.11986     Durbin-Watson = 1.91801 [<.991]
 Sum of squared residuals = 68.8771  Jarque-Bera test = .268036 [.875]
    Variance of residuals = 1.01290   Ramsey's RESET2 = 2.77210 [.101]
 Std. error of regression = 1.00643   F (zero slopes) = 1.94208 [.019]
                R-squared = .396455    Schwarz B.I.C. = 171.488
       Adjusted R-squared = .192315    Log likelihood = -117.227

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 C         3.84830       3.20723       1.19988           [.234]
 LTNS      .224597       .250012       .898346           [.372]
 LSUPPLY1  -.106720      .123783       -.862157          [.392]
 FOWNER1   -.025747      .238116       -.108127          [.914]
 FOWNER2   -.017615      .107681       -.163584          [.871]
 FOWNER3   .085852       .136477       .629057           [.531]
 FOWNER4   -.464564      .137772       -3.37198      **  [.001]
 FOWNER5   -.062251      .066886       -.930694          [.355]
 FDUMMY1   .024751       .216602       .114271           [.909]
 FDUMMY2   -.048195      .122797       -.392477          [.696]
 FDUMMY3   -.337193      .147108       -2.29214      *   [.025]
 FDUMMY4   .102939       .120712       .852766           [.397]
 FDUMMY5   .091205       .156483       .582844           [.562]
 FDUMMY6   .197333       .142224       1.38748           [.170]
 FDUMMY7   -.533042      .354405       -1.50405          [.137]
 FDUMMY8   .058310       .112996       .516032           [.608]
 FDUMMY9   -.012362      .151800       -.081435          [.935]
 FDUMMY10  .611634E-03   .163786       .373434E-02       [.997]
 FDUMMY11  -.380151      .144215       -2.63601      *   [.010]
 FDUMMY12  -.236423      .213157       -1.10915          [.271]
 FSTAT1    .061747       .073770       .837014           [.406]
 FSTAT2    -.123516      .060044       -2.05710      *   [.044]
 FSTAT3    -.052806      .041387       -1.27591          [.206]
 FSTAT4    .011585       .047582       .243463           [.808]


 F(23,68)  Test Statistic: 1.942076, Upper tail area: .01851