Equation  11
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  61

        Mean of dep. var. = 5.88809      LM het. test = 3.30045 [.069]
   Std. dev. of dep. var. = 1.16160     Durbin-Watson = 2.16236 [<.978]
 Sum of squared residuals = 19.1733  Jarque-Bera test = 9.01805 [.011]
    Variance of residuals = .383466   Ramsey's RESET2 = .103237 [.749]
 Std. error of regression = .619246   F (zero slopes) = 16.1123 [.000]
                R-squared = .763290    Schwarz B.I.C. = 73.8657
       Adjusted R-squared = .715948    Log likelihood = -51.2559

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   -.139768      .250197       -.558632          [.579]
 LPRICE3   .645627       .407818       1.58313           [.120]
 LPRICE4   -.316080      .421351       -.750157          [.457]
 LPRICE5   .526741       .376600       1.39867           [.168]
 LPRICE6   .301055       .306195       .983213           [.330]
 LSUPPLY1  .782792E-02   .271278       .028856           [.977]
 LSUPPLY2  -.144283      .263841       -.546856          [.587]
 LSUPPLY3  .424454       .156204       2.71730       **  [.009]
 LSUPPLY4  -.296512      .158498       -1.87076          [.067]
 LSUPPLY5  -.014404      .132876       -.108399          [.914]
 LSUPPLY6  .235006       .114666       2.04949       *   [.046]


					Equation  12
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  61

        Mean of dep. var. = 5.88809      LM het. test = .722627 [.395]
   Std. dev. of dep. var. = 1.16160     Durbin-Watson = 1.98599 [<1.00]
 Sum of squared residuals = 11.8408  Jarque-Bera test = 2.21377 [.331]
    Variance of residuals = .455416   Ramsey's RESET2 = 1.31160 [.263]
 Std. error of regression = .674845   F (zero slopes) = 4.46376 [.000]
                R-squared = .853742    Schwarz B.I.C. = 108.496
       Adjusted R-squared = .662481    Log likelihood = -36.5559

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   -.542226      .396436       -1.36775          [.183]
 LPRICE3   .805819       .559095       1.44129           [.161]
 LPRICE4   -.017489      .690216       -.025338          [.980]
 LPRICE5   .553573       .465341       1.18961           [.245]
 LPRICE6   .617029       .450295       1.37028           [.182]
 LSUPPLY1  -.142966      .366157       -.390450          [.699]
 LSUPPLY2  .167875       .371150       .452311           [.655]
 LSUPPLY3  .236080       .214707       1.09954           [.281]
 LSUPPLY4  -.102634      .280933       -.365332          [.718]
 LSUPPLY5  -.146646      .206885       -.708829          [.485]
 LSUPPLY6  .416014       .173907       2.39216       *   [.024]
 C         1.48152       3.70069       .400337           [.692]
 LTNS      -.374557      .252260       -1.48481          [.149]
 LSUPPLY1  0.            0.            0.                [1.00]
 FOWNER1   .306503       .544360       .563051           [.578]
 FOWNER2   -.060776      .169060       -.359494          [.722]
 FOWNER3   -.092225      .188294       -.489793          [.628]
 FOWNER4   -.166292      .256042       -.649473          [.522]
 FOWNER5   .076835       .098187       .782545           [.441]
 FDUMMY1   -.101294      .260497       -.388850          [.700]
 FDUMMY2   .094847       .124654       .760884           [.453]
 FDUMMY3   -.200769      .136400       -1.47192          [.153]
 FDUMMY4   -.089946      .136787       -.657561          [.516]
 FDUMMY5   .128912       .177662       .725600           [.474]
 FDUMMY6   .049067       .170817       .287247           [.776]
 FDUMMY7   -.410284      .336817       -1.21812          [.234]
 FDUMMY8   -.020211      .106617       -.189566          [.851]
 FDUMMY9   .173435       .127893       1.35609           [.186]
 FDUMMY10  -.057402      .137078       -.418754          [.679]
 FDUMMY11  -.177854      .199340       -.892217          [.380]
 FDUMMY12  -.103704      .311251       -.333185          [.742]
 FSTAT1    -.331849E-02  .082690       -.040132          [.968]
 FSTAT2    -.051418      .124832       -.411895          [.684]
 FSTAT3    .046721       .035953       1.29950           [.205]
 FSTAT4    .026103       .046626       .559853           [.580]


 F(24,26)  Test Statistic: 0.6708593, Upper tail area: .83549