Equation  27
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  582

        Mean of dep. var. = 4.98442      LM het. test = 1.96247 [.161]
   Std. dev. of dep. var. = .879877     Durbin-Watson = 1.89876 [<.130]
 Sum of squared residuals = 325.711  Jarque-Bera test = 14.7868 [.001]
    Variance of residuals = .562541   Ramsey's RESET2 = 54.0534 [.000]
 Std. error of regression = .750028   F (zero slopes) = 110.293 [.000]
                R-squared = .291853    Schwarz B.I.C. = 666.458
       Adjusted R-squared = .289407    Log likelihood = -656.909

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .624500       .034895       17.8967       **  [.000]
 LSUPPLY1  .147780       .072474       2.03909       *   [.042]
 LSUPPLY2  .151635       .069180       2.19189       *   [.029]


					Equation  28
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  582

        Mean of dep. var. = 4.98442      LM het. test = .448383E-02 [.947]
   Std. dev. of dep. var. = .879877     Durbin-Watson = 2.02163 [<.959]
 Sum of squared residuals = 267.543  Jarque-Bera test = 15.1548 [.001]
    Variance of residuals = .482059   Ramsey's RESET2 = 2.89638 [.089]
 Std. error of regression = .694305   F (zero slopes) = 14.5416 [.000]
                R-squared = .405197    Schwarz B.I.C. = 685.607
       Adjusted R-squared = .377332    Log likelihood = -599.660

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .562757       .035814       15.7134       **  [.000]
 LSUPPLY1  -.047424      .094442       -.502154          [.616]
 LSUPPLY2  .152715       .065315       2.33811       *   [.020]
 C         5.43797       .670107       8.11508       **  [.000]
 LTNS      -.267444      .075216       -3.55567      **  [.000]
 LSUPPLY1  0.            0.            0.                [1.00]
 FOWNER1   -.198267E-02  .026924       -.073639          [.941]
 FOWNER2   .038488       .036558       1.05281           [.293]
 FOWNER3   -.969967E-02  .029109       -.333219          [.739]
 FOWNER4   -.026893      .048062       -.559547          [.576]
 FOWNER5   .216640       .134910       1.60582           [.109]
 FDUMMY1   .618230E-02   .042560       .145261           [.885]
 FDUMMY2   -.050680      .031822       -1.59261          [.112]
 FDUMMY3   .710068E-02   .028415       .249889           [.803]
 FDUMMY4   -.071760      .029256       -2.45283      *   [.014]
 FDUMMY5   .186342E-02   .027426       .067944           [.946]
 FDUMMY6   .037360       .032739       1.14114           [.254]
 FDUMMY7   -.066614      .029193       -2.28182      *   [.023]
 FDUMMY8   .066689       .031316       2.12952       *   [.034]
 FDUMMY9   -.050305      .028411       -1.77061          [.077]
 FDUMMY10  -.024468      .028028       -.872983          [.383]
 FDUMMY11  -.119191E-02  .028820       -.041357          [.967]
 FDUMMY12  .695984E-02   .026903       .258700           [.796]
 FSTAT1    -.027352      .415303       -.065860          [.948]
 FSTAT2    .378610       .260106       1.45560           [.146]
 FSTAT3    .214734       .305904       .701964           [.483]
 FSTAT4    -.266818      .100320       -2.65968      **  [.008]


 F(24,555)  Test Statistic: 5.027804, Upper tail area: .00000