Equation   9
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  69

        Mean of dep. var. = 5.90413      LM het. test = 4.95260 [.026]
   Std. dev. of dep. var. = 1.12344     Durbin-Watson = 2.14578 [<.950]
 Sum of squared residuals = 22.0097  Jarque-Bera test = 13.8481 [.001]
    Variance of residuals = .366828   Ramsey's RESET2 = .216497 [.643]
 Std. error of regression = .605664   F (zero slopes) = 21.7451 [.000]
                R-squared = .743791    Schwarz B.I.C. = 77.5397
       Adjusted R-squared = .709629    Log likelihood = -58.4863

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .453818E-02   .220136       .020615           [.984]
 LPRICE3   .641809       .371879       1.72585           [.090]
 LPRICE4   -.056603      .388328       -.145762          [.885]
 LPRICE5   .293251       .342901       .855208           [.396]
 LSUPPLY1  .483015E-02   .209215       .023087           [.982]
 LSUPPLY2  -.078786      .222104       -.354726          [.724]
 LSUPPLY3  .460859       .150048       3.07142       **  [.003]
 LSUPPLY4  -.328160      .144275       -2.27455      *   [.027]
 LSUPPLY5  .159424       .100574       1.58514           [.118]


					Equation  10
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  69

        Mean of dep. var. = 5.90413      LM het. test = 1.13038 [.288]
   Std. dev. of dep. var. = 1.12344     Durbin-Watson = 2.20357 [<1.00]
 Sum of squared residuals = 15.3231  Jarque-Bera test = 9.39107 [.009]
    Variance of residuals = .425641   Ramsey's RESET2 = .778035 [.384]
 Std. error of regression = .652412   F (zero slopes) = 5.17604 [.000]
                R-squared = .821458    Schwarz B.I.C. = 115.856
       Adjusted R-squared = .662754    Log likelihood = -45.9930

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   -.087289      .302800       -.288275          [.775]
 LPRICE3   .861193       .492845       1.74739           [.089]
 LPRICE4   -.267686      .581916       -.460008          [.648]
 LPRICE5   .455960       .429121       1.06254           [.295]
 LSUPPLY1  -.774091E-02  .287088       -.026964          [.979]
 LSUPPLY2  .114135       .315374       .361905           [.719]
 LSUPPLY3  .297829       .201370       1.47901           [.148]
 LSUPPLY4  -.204850      .232418       -.881388          [.384]
 LSUPPLY5  .134322       .141880       .946726           [.350]
 C         2.72136       3.09475       .879348           [.385]
 LTNS      -.316886      .224251       -1.41308          [.166]
 LSUPPLY1  0.            0.            0.                [1.00]
 FOWNER1   .184130       .477377       .385711           [.702]
 FOWNER2   .016663       .089614       .185942           [.854]
 FOWNER3   -.161401      .151274       -1.06694          [.293]
 FOWNER4   -.037748      .218379       -.172853          [.864]
 FOWNER5   -.011468      .083915       -.136666          [.892]
 FDUMMY1   .111535       .219200       .508829           [.614]
 FDUMMY2   .099319       .106069       .936357           [.355]
 FDUMMY3   -.196999      .126013       -1.56332          [.126]
 FDUMMY4   .011433       .116211       .098380           [.922]
 FDUMMY5   .046587       .137751       .338194           [.737]
 FDUMMY6   .077913       .136082       .572541           [.570]
 FDUMMY7   -.315362      .299913       -1.05151          [.300]
 FDUMMY8   -.061766      .097532       -.633285          [.530]
 FDUMMY9   .098748       .115817       .852624           [.399]
 FDUMMY10  -.015906      .116000       -.137123          [.892]
 FDUMMY11  -.223546      .137606       -1.62453          [.113]
 FDUMMY12  -.066666      .265367       -.251222          [.803]
 FSTAT1    .043450       .075288       .577124           [.567]
 FSTAT2    -.024317      .108327       -.224479          [.824]
 FSTAT3    .018758       .032695       .573717           [.570]
 FSTAT4    .011071       .043524       .254356           [.801]


 F(24,36)  Test Statistic: 0.6545655, Upper tail area: .86063