Equation  19
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  139

        Mean of dep. var. = 5.20638      LM het. test = .903225 [.342]
   Std. dev. of dep. var. = 1.01413     Durbin-Watson = 2.15818 [<.935]
 Sum of squared residuals = 57.5816  Jarque-Bera test = 83.3905 [.000]
    Variance of residuals = .436224   Ramsey's RESET2 = 4.01390 [.047]
 Std. error of regression = .660473   F (zero slopes) = 32.2255 [.000]
                R-squared = .595929    Schwarz B.I.C. = 153.255
       Adjusted R-squared = .577562    Log likelihood = -135.984

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .185667       .112187       1.65497           [.100]
 LPRICE3   .358646       .209809       1.70939           [.090]
 LPRICE4   .274654       .216520       1.26849           [.207]
 LSUPPLY1  -.247429      .124510       -1.98722      *   [.049]
 LSUPPLY2  .309846       .138522       2.23680       *   [.027]
 LSUPPLY3  .042684       .101957       .418651           [.676]
 LSUPPLY4  .125104       .074387       1.68179           [.095]


					Equation  20
					unrestricted
					============
					
		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  139

        Mean of dep. var. = 5.20638      LM het. test = 3.71274 [.054]
   Std. dev. of dep. var. = 1.01413     Durbin-Watson = 2.10668 [<1.00]
 Sum of squared residuals = 40.9375  Jarque-Bera test = 12.0040 [.002]
    Variance of residuals = .379051   Ramsey's RESET2 = 2.72000 [.102]
 Std. error of regression = .615671   F (zero slopes) = 8.88090 [.000]
                R-squared = .711559    Schwarz B.I.C. = 188.758
       Adjusted R-squared = .631437    Log likelihood = -112.274

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .126577       .115776       1.09329           [.277]
 LPRICE3   .641498       .213243       3.00830       **  [.003]
 LPRICE4   .011451       .244775       .046781           [.963]
 LSUPPLY1  -.311940      .155619       -2.00451      *   [.047]
 LSUPPLY2  .286014       .141342       2.02357       *   [.045]
 LSUPPLY3  .055911       .109401       .511060           [.610]
 LSUPPLY4  .083193       .083526       .996014           [.321]
 C         1.35748       3.34397       .405948           [.686]
 LTNS      .912156E-02   .258940       .035227           [.972]
 LSUPPLY1  0.            0.            0.                [1.00]
 FOWNER1   -.084840      .094850       -.894461          [.373]
 FOWNER2   .011745       .062974       .186509           [.852]
 FOWNER3   .045520       .067907       .670326           [.504]
 FOWNER4   -.052415      .055721       -.940664          [.349]
 FOWNER5   -.046752      .047052       -.993612          [.323]
 FDUMMY1   .089396       .093017       .961066           [.339]
 FDUMMY2   -.153109      .057900       -2.64437      **  [.009]
 FDUMMY3   -.123133      .065457       -1.88113          [.063]
 FDUMMY4   .054353       .075659       .718397           [.474]
 FDUMMY5   -.078636      .087915       -.894452          [.373]
 FDUMMY6   .134131       .082323       1.62932           [.106]
 FDUMMY7   .075759       .078378       .966587           [.336]
 FDUMMY8   -.027842      .074140       -.375531          [.708]
 FDUMMY9   .379457E-03   .060929       .622786E-02       [.995]
 FDUMMY10  -.016930      .064378       -.262978          [.793]
 FDUMMY11  -.351584      .084833       -4.14443      **  [.000]
 FDUMMY12  -.166656      .089415       -1.86384          [.065]
 FSTAT1    -.655247      .523465       -1.25175          [.213]
 FSTAT2    -.096001      .272026       -.352909          [.725]
 FSTAT3    -.115487      .294395       -.392286          [.696]
 FSTAT4    -.092520      .187282       -.494016          [.622]


 F(24,108)  Test Statistic: 1.829585, Upper tail area: .01926