Equation  33
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  460

        Mean of dep. var. = 4.96812      LM het. test = .024765 [.875]
   Std. dev. of dep. var. = .892827     Durbin-Watson = 1.81826 [<.072]
 Sum of squared residuals = 216.678  Jarque-Bera test = 11.6413 [.003]
    Variance of residuals = .480439   Ramsey's RESET2 = 19.2912 [.000]
 Std. error of regression = .693137   F (zero slopes) = 38.8210 [.000]
                R-squared = .411975    Schwarz B.I.C. = 507.155
       Adjusted R-squared = .401545    Log likelihood = -479.565

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .154436       .072938       2.11737       *   [.035]
 LPRICE3   .178716       .116004       1.54060           [.124]
 LPRICE4   .201502       .140732       1.43181           [.153]
 LPRICE5   .236705       .095636       2.47505       *   [.014]
 LSUPPLY1  -.677654E-03  .076870       -.881559E-02      [.993]
 LSUPPLY2  .099240       .083536       1.18799           [.235]
 LSUPPLY3  .107636E-02   .068432       .015729           [.987]
 LSUPPLY4  .057606       .054512       1.05676           [.291]
 LSUPPLY5  .110449       .037213       2.96803       **  [.003]


					Equation  34
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  460

        Mean of dep. var. = 4.96812      LM het. test = .147959E-02 [.969]
   Std. dev. of dep. var. = .892827     Durbin-Watson = 1.99721 [<.976]
 Sum of squared residuals = 172.149  Jarque-Bera test = 17.5892 [.000]
    Variance of residuals = .403160   Ramsey's RESET2 = .042520 [.837]
 Std. error of regression = .634949   F (zero slopes) = 15.0171 [.000]
                R-squared = .529501    Schwarz B.I.C. = 527.818
       Adjusted R-squared = .494241    Log likelihood = -426.653

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .091981       .068987       1.33330           [.183]
 LPRICE3   .241375       .111148       2.17166       *   [.030]
 LPRICE4   .252705       .137203       1.84183           [.066]
 LPRICE5   .199048       .093186       2.13604       *   [.033]
 LSUPPLY1  -.083495      .094705       -.881631          [.378]
 LSUPPLY2  .111440       .079052       1.40972           [.159]
 LSUPPLY3  -.026035      .065768       -.395857          [.692]
 LSUPPLY4  .091595       .053761       1.70376           [.089]
 LSUPPLY5  .118107       .035142       3.36087       **  [.001]
 C         3.97120       .761825       5.21274       **  [.000]
 LTNS      -.294815      .078430       -3.75895      **  [.000]
 LSUPPLY1  0.            0.            0.                [1.00]
 FOWNER1   -.310190E-02  .026939       -.115145          [.908]
 FOWNER2   .031425       .037989       .827197           [.409]
 FOWNER3   -.016842      .029638       -.568272          [.570]
 FOWNER4   -.811463E-02  .047716       -.170062          [.865]
 FOWNER5   .168241       .134206       1.25360           [.211]
 FDUMMY1   -.116794      .047109       -2.47921      *   [.014]
 FDUMMY2   -.088736      .033412       -2.65578      **  [.008]
 FDUMMY3   .198212E-02   .029781       .066556           [.947]
 FDUMMY4   -.057934      .028919       -2.00332      *   [.046]
 FDUMMY5   .016640       .029128       .571280           [.568]
 FDUMMY6   -.076854      .037022       -2.07593      *   [.038]
 FDUMMY7   -.024044      .031864       -.754586          [.451]
 FDUMMY8   .044489       .031022       1.43410           [.152]
 FDUMMY9   -.039866      .029597       -1.34695          [.179]
 FDUMMY10  .011537       .029345       .393146           [.694]
 FDUMMY11  .026604       .029960       .887997           [.375]
 FDUMMY12  -.045799      .027775       -1.64896          [.100]
 FSTAT1    -.502935      .527733       -.953010          [.341]
 FSTAT2    .451851       .256686       1.76033           [.079]
 FSTAT3    -.127342      .371532       -.342748          [.732]
 FSTAT4    -.231067      .115840       -1.99472      *   [.047]


 F(24,427)  Test Statistic: 4.602042, Upper tail area: .00000