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

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  593

        Mean of dep. var. = 5.00192          LM het. test = -.173624E-03 [1.00]
   Std. dev. of dep. var. = .885154         Durbin-Watson = 1.92782 [<1.00]
 Sum of squared residuals = 463.831      Jarque-Bera test = 17.2437 [.000]
    Variance of residuals = .783497       Ramsey's RESET2 = .850706E+38 [.000]
 Std. error of regression = .885154        Schwarz B.I.C. = 771.780
                R-squared = .545204E-30    Log likelihood = -768.588
       Adjusted R-squared = 0.

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 C         5.00192       .036349       137.608       **  [.000]


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

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  593

        Mean of dep. var. = 5.00192      LM het. test = 3.15649 [.076]
   Std. dev. of dep. var. = .885154     Durbin-Watson = 1.98215 [<.860]
 Sum of squared residuals = 411.432  Jarque-Bera test = 11.6203 [.003]
    Variance of residuals = .723079   Ramsey's RESET2 = .078007 [.780]
 Std. error of regression = .850340   F (zero slopes) = 3.15071 [.000]
                R-squared = .112970    Schwarz B.I.C. = 809.667
       Adjusted R-squared = .077114    Log likelihood = -733.045

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 C         8.07555       .793101       10.1822       **  [.000]
 LTNS      -.160363      .091122       -1.75986          [.079]
 LSUPPLY1  -.090861      .080977       -1.12206          [.262]
 FOWNER1   .017080       .032836       .520166           [.603]
 FOWNER2   .013234       .044625       .296567           [.767]
 FOWNER3   -.032128      .035595       -.902603          [.367]
 FOWNER4   -.065188      .058679       -1.11091          [.267]
 FOWNER5   .361824       .164244       2.20297       *   [.028]
 FDUMMY1   .074135       .051205       1.44780           [.148]
 FDUMMY2   -.717569E-02  .038308       -.187316          [.851]
 FDUMMY3   -.015184      .034255       -.443276          [.658]
 FDUMMY4   -.085425      .035748       -2.38964      *   [.017]
 FDUMMY5   -.017792      .033374       -.533122          [.594]
 FDUMMY6   .064619       .039883       1.62021           [.106]
 FDUMMY7   -.041218      .034819       -1.18375          [.237]
 FDUMMY8   .106519       .037358       2.85134       **  [.005]
 FDUMMY9   -.051325      .034516       -1.48699          [.138]
 FDUMMY10  -.051403      .033818       -1.52000          [.129]
 FDUMMY11  .027412       .035181       .779171           [.436]
 FDUMMY12  .066646       .032631       2.04245       *   [.042]
 FSTAT1    .228636       .501560       .455850           [.649]
 FSTAT2    .881577       .315140       2.79741       **  [.005]
 FSTAT3    .503377       .370091       1.36015           [.174]
 FSTAT4    -.488832      .118488       -4.12560      **  [.000]


 F(23,569)  Test Statistic: 3.150706, Upper tail area: .00000