Equation   5
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  87

        Mean of dep. var. = 5.94962      LM het. test = 5.49011 [.019]
   Std. dev. of dep. var. = 1.10436     Durbin-Watson = 2.19331 [<.912]
 Sum of squared residuals = 30.6251  Jarque-Bera test = 23.5967 [.000]
    Variance of residuals = .373476   Ramsey's RESET2 = 1.13976 [.289]
 Std. error of regression = .611127   F (zero slopes) = 49.7093 [.000]
                R-squared = .709229    Schwarz B.I.C. = 89.1945
       Adjusted R-squared = .695045    Log likelihood = -78.0298

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   -.095108      .159868       -.594917          [.554]
 LPRICE3   1.00563       .192207       5.23200       **  [.000]
 LSUPPLY1  .023443       .191666       .122310           [.903]
 LSUPPLY2  -.110985      .206115       -.538459          [.592]
 LSUPPLY3  .286991       .117368       2.44523       *   [.017]


					Equation   6
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  87

        Mean of dep. var. = 5.94962      LM het. test = .662463 [.416]
   Std. dev. of dep. var. = 1.10436     Durbin-Watson = 2.33860 [<1.00]
 Sum of squared residuals = 21.4405  Jarque-Bera test = 9.86714 [.007]
    Variance of residuals = .369664   Ramsey's RESET2 = 2.11158 [.152]
 Std. error of regression = .608000   F (zero slopes) = 8.06190 [.000]
                R-squared = .795583    Schwarz B.I.C. = 127.276
       Adjusted R-squared = .696898    Log likelihood = -62.5205

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   -.534699E-02  .204138       -.026193          [.979]
 LPRICE3   .844291       .262461       3.21682       **  [.002]
 LSUPPLY1  -.104951      .226065       -.464254          [.644]
 LSUPPLY2  .185873       .248439       .748163           [.457]
 LSUPPLY3  .209021       .132674       1.57545           [.120]
 C         2.38651       2.17861       1.09543           [.278]
 LTNS      -.233730      .169029       -1.38279          [.172]
 LSUPPLY1  0.            0.            0.                [1.00]
 FOWNER1   -.048351      .150554       -.321151          [.749]
 FOWNER2   -.019711      .072006       -.273741          [.785]
 FOWNER3   -.056591      .087556       -.646333          [.521]
 FOWNER4   -.351987E-02  .152869       -.023025          [.982]
 FOWNER5   -.018057      .041030       -.440085          [.661]
 FDUMMY1   .082150       .156577       .524663           [.602]
 FDUMMY2   .037960       .081870       .463660           [.645]
 FDUMMY3   -.243918      .101222       -2.40973      *   [.019]
 FDUMMY4   .154396E-02   .083209       .018555           [.985]
 FDUMMY5   .056707       .096370       .588435           [.558]
 FDUMMY6   .081669       .096532       .846022           [.401]
 FDUMMY7   -.296229      .232201       -1.27574          [.207]
 FDUMMY8   -.066580      .081849       -.813445          [.419]
 FDUMMY9   .091503       .100534       .910169           [.366]
 FDUMMY10  -.045612      .100114       -.455600          [.650]
 FDUMMY11  -.189697      .091748       -2.06759      *   [.043]
 FDUMMY12  -.130772      .177249       -.737787          [.464]
 FSTAT1    .029159       .046467       .627521           [.533]
 FSTAT2    -.043588      .039252       -1.11047          [.271]
 FSTAT3    .014623       .026931       .542983           [.589]
 FSTAT4    .052326       .031699       1.65072           [.104]


 F(24,58)  Test Statistic: 1.035232, Upper tail area: .44114