The information content of central bank interest rate projections: Evidence from New Zealand

The Reserve Bank of New Zealand (RBNZ) has been the first central bank that began to publish interest rate projections in order to improve its guidance of monetary policy. This paper provides new evidence on the role of interest rate projections for market expectations about future shortterm rates and the behavior of long-term interest rates in New Zealand. We find that interest rate projections up to four quarters ahead play a significant role for the RBNZs expectations management before the crisis, while their empirical relevance has decreased ever since. For interest rate projections at longer horizons, the information content seems to be only weak and partially destabilizing.Central bank interest rate projections, central bank communication, expectations management of central banks

X-ray narrow line region variability as a geometry probe: The case of NGC 5548

We study the long time scale variability of the gas responsible for the X-ray narrow emission lines in the Seyfert 1 galaxy NGC 5548, in order to constrain the location and geometry of the emitting gas. Using X-ray spectra taken with the Chandra-LETGS and HETGS instruments and with XMM-Newton RGS and combining them with long-term monitoring observations of the Rossi X-ray Timing Explorer (RXTE), we perform a correlation analysis in order to try constrain the time scale on which the narrow line emitting gas responds to variations of the continuum flux. With the inclusion of the 2007 Chandra-LETGS observation we have an additional observation at an historically low flux level. We conclude that the NLR in NGC 5548 is in the form of an ionization cone, compact in size, and located between 1 and 15 pc from the central source, depending on the exact geometry of the NLR.Comment: 6 pages, 4 figures, accepted for publication in A&

Interaction of cultured human endothelial cells with polymeric surfaces of different wettabilities

The in vitro interaction of human endothelial cells (HEC) and polymers with different wettabilities in culture medium containing serum was investigated. Optimal adhesion of HEC generally occurred onto moderately wettable polymers. Within a series of cellulose type of polymers the cell adhesion increased with increasing contact angle of the polymer surfaces. Proliferation of HEC occurred when adhesion was followed by progressive flattening of the cells.\ud \ud Our results suggest that moderately wettable polymers exhibit a serum and/or cellular protein adsorption pattern that is favourable for growth of HEC

The influence of protein adsorption on interactions of cultured human endothelial cells with polymers

A systematic study of the effects of polymer surface properties on the interaction with human endothelial cells (HEC) may lead to the development of small-diameter vascular grafts. HEC, suspended in culture medium containing 20% serum adhered and spread onto moderately wettable polymers such as TCPS (tissue culture polystyrene). Reduced or no adhesion of HEC was observed upon the hydrophobic polymers PETP (polyethyleneterephthalate, Dacron) and FEP (fluoroethylenepropylene copolymer, Teflon). Polymers precoated with the proteins albumin (Alb), high density lipoprotein (HDL), and immunoglobulin G (IgG) inhibited the adhesion of HEC, whereas fibronectin (Fn) coátings promoted cell adhesion. Endothelialization of PETP and FEP only occurred after precoating of these materials with Fn. The adsorption of Fn, Alb, HDL, and IgG from solutions of different serum concentrations onto TCPS, PETP, and FEP was related to the adhesion of HEC. Serum Fn only adsorbed onto TCPS, with the maximum at 0.1% serum concentration. Maximal cell adhesion onto TCPS was also observed after pretreatment with a solution containing 0.1% serum. The cell adhesion inhibiting proteins Alb and HDL preferentially adsorbed at higher serum concentrations. Desorption of these proteins and exchange for, e. g., cellular Fn may result in cell spreading and proliferation of HEC upon TCPS

Adsorption of fibronectin derived from serum and from human endothelial cells onto tissue culture polystyrene

Human endothelial cells (HEC) suspended in a culture medium containing 20% human serum (CMS) adhere and spread on(to) moderately wettable polymers, such as tissue culture polystyrene (TCPS). We have previously shown that serum derived-fibronectin, which is a cell adhesion promoting protein, has a high affinity for TCPS, but that the amount of fibronectin which adsorbed from CMS was relatively small. In this study we investigated whether fibronectin derived from HEC contributes to the adhesion and spreading of the cells on(to) TCPS. Therefore, HEC were seeded in the presence of fibronectin-depleted CMS. The amount of fibronectin detected on TCPS increased with both cell seeding density and incubation time. Although initial HEC adhesion is delayed on TCPS which had been precoated with albumin (Alb), high density lipoprotein (HDL) or immunoglobulin G(IgG), maximal numbers of adhering and spreading HEC were found on these surfaces 6 h after seeding of HEC. Fibronectin was detected on these surfaces, but an exchange of preadsorbed Alb, HDL, or IgG for fibronectin could not be demonstrated. We conclude that HEC deposit fibronectin onto TCPS, irrespective of the presence of a preadsorbed layer of proteins which delay cell adhesion

The outflow in Mrk 509: A method to calibrate XMM-Newton EPIC-pn and RGS

We have analyzed three XMM-Newton observations of the Seyfert 1 galaxy Mrk 509, with the goal to detect small variations in the ionized outflow properties. Such measurements are limited by the quality of the cross-calibration between RGS, the best instrument to characterize the spectrum, and EPIC-pn, the best instrument to characterize the variability. For all three observations we are able to improve the relative calibration of RGS and pn consistently to 4 %. In all observations we detect three different outflow components and, thanks to our accurate cross-calibration we are able to detect small differences in the ionization parameter and column density in the highest ionized component of the outflow. This constrains the location of this component of the outflow to within 0.5 pc of the central source. Our method for modeling the relative effective area is not restricted to just this source and can in principle be extended to other types of sources as well.Comment: 11 pages, 9 figure