Central Campus, University of Michigan

An aerial panorama of the buildings of the Central Campus area shows Burton Tower, Rackham Graduate School, East and West Engineering, the Cook Law Quadrangle, Harlan Hatcher Graduate Library and many other buildings.

Chemical composition of manganese nodules and crusts collected from the Hakurei Maru Cruise GH74-5 in the Eastern Central Pacific Basin

Chemical composition of manganese nodules and crust collected from the Hakurei Maru Cruise GH74-5, September-October, 1974, in the Eastern Central Pacific Basin by the Geological Survey of Japan according to: Analyses and sample manganese deposits data from Cruise GH74-5 (private communication) (unpublished), Scripps Institution of Oceanography. http://www.ngdc.noaa.gov/mgg_mmbib/showref.jsp?mmbib=MIZUAA7702.

Description of manganese nodules and crust collected from the Hakurei Maru Cruise GH74-5, September-October, 1974, in the Eastern Central Pacific Basin

The cores and dredges described in this report were taken on the GH74-5 Expedition in September-October, 1974 by the Geological Survey of Japan from the R/V Hakurei Maru. A total of 36 cores, dredges and submarine camera sites have been visited. The survey conducted an investigation of the manganese deposits in the Eastern Pacific Basin and the East of the Okinawa islands

Wild plant seed storage at Neolithic East, Turke

Full analysis of eight seed samples collected in the 1960's excavations at Neolithic Catalhoyuk East, Turkey, is presented. Detailed investigation of the composition and context of the samples suggests that the Neolithic population collected, processed and stored seeds from Capsella sp. and Descurainia sp. (wild crucifers) for food use. In addition seeds of Vicia/Lathyrus sp. (wild vetch), Helianthemum spp. and Taeniatherum caput-medusae mixed with Eremopyrum type (grasses) were also found, some of which may have been used for food or other purposes. The analysis demonstrates that wild seed exploitation was a regular part of subsistence practice alongside the economic staple of crop production, and again demonstrates how diverse plant use practices were at the site.

Cultural value systems of East European countries:a gender based analysis

This study examines the cultural value systems of employees working in major industrial and commercial centers of six ex-communist Central and Eastern European countries (CEEC) and the former Soviet Republics (FSR). The study throws light on how human resources are managed in these countries and has key messages for overseas operators who are already doing business or planning to start on in these countries.

Do external funds yield lower returns? Recent evidence from East Asian economies

One of the central explanations of the recent Asian Crisis has been the problem of moral hazard as the source of over-investment and excessive external borrowing. There is however rather limited firm-level empirical evidence to characterise inefficient use of internal and external finances. Using a large firm-level panel data-set from four badly affected Asian countries, this paper compares the rates of return to various internal and external funds among firms with low and high debt financing (relative to equity) among financially constrained and other firms. Selectivity-corrected estimates obtained from random effects panel data model do suggest evidence of significantly lower rates of return to long-term debt, even among firms relying more on debt relative to equity in our sample. There is also evidence that average effective interest rates often significantly exceeded the average returns to long-term debt in the sample countries in the pre-crisis period. © 2006 Elsevier Inc. All rights reserved.

Kelet-közép-európai devizaárfolyamok előrejelzése határidős árfolyamok segítségével (Forecasting the exchange rates of three Central-Eastern European currencies with forward exchange rates)

Írásunkban azt vizsgáljuk, hogy a hosszú lejáratú határidős árfolyamok stacionaritását feltételező hibakorrekciós modellek, amelyeknek korábbi számítások szerint - a világ devizapiaci forgalmának mintegy 75 százalékát kitevő fejlett ipari országokra alkalmazva - kitűnő a mintán kívüli előrejelző erejük, hogyan képesek három keletközép- európai ország devizaárfolyamát előrejelezni. A három vizsgálat alá vont deviza (cseh, magyar, lengyel) esetében az eredmények relációnként nagyon eltérnek, és összességében kedvezőtlenebbek, mint a fejlett ipari országokra kapott eredmények, amit a nem teljesen rugalmas árfolyamrezsim, a rendelkezésre álló adatsor rövidsége, az eurózóna-csatlakozáshoz kapcsolódó bizonytalanságok, a devizakockázati és a határidős kamatprémium létezése, továbbá a Balassa-Samuelson-hatás együttes befolyásaként tudunk értelmezni. JEL kód: E43, F31, F47. /===/ This paper studies whether models that assume long-maturity forward exchange rates are stationary (which proved in earlier studies to provide superior forecasting ability when applied to exchange rates of major currencies) are capable of forecasting the Euro exchange rates of three Central-East European currencies (the Czech koruna, Hungarian forint and Polish zloty). The results for the three currencies differ from each other and are generally much worse than those obtained earlier for major currencies. These unfavourable results are attributed to the consequences of managed exchange-rate systems, to the short time series available, to uncertainties related to future Euro-zone entry, to the existence of a foreign exchange and term premium, and to the Balassa–Samuelson effect.

A közép-kelet-európai bankfúziók eredményessége (The success of the bank mergers in Central Eastern Europe)

Az elmúlt években a nagy európai bankcsoportok egyre több közép-kelet-európai bankot vásároltak fel. Tanulmányunkban a bankfúziók értékteremtő hatását részvényesi szemmel elemezzük. A közép-kelet-európai régióban tevékenykedő hét legnagyobb bankcsoport 2000 és 2008 közötti akvizíciós tranzakcióit az eseményelemzés módszerével vizsgáljuk. Úgy tűnik, a részvényesek összességében értékelik a bankcsoportok akvizíciós törekvéseit: a fúziók kicsit több mint felében pozitív a kumulált abnormális hozam, és enyhén pozitív az összes esemény abnormális hozamának átlaga is. Számításaink során elsőként az egyes bankcsoportok felvásárlási stratégiáját értékeljük. A felvásárlás bejelentése körüli háromnapos időintervallumot alapul véve, a Raiffeisen és az OTP stratégiája tekinthető a legsikeresebbnek, míg az Erste felvásárlásai a legkevésbé eredményesnek. Ezt követően rávilágítunk arra, hogy eltérő befektetői szándékból ugyan, de mind a legmagasabb, mind a legalacsonyabb értékű ügyletek esetében a pozitív abnormális hozamú fúziók vannak túlsúlyban. Végezetül megállapítjuk, hogy az országhatáron átívelő ügyletek befektetői megítélése nem rosszabb az országhatáron belüli tranzakciókénál. /===/ The big European banking groups have been buying up more and more banks in Central Eastern Europe. The study analyses the value-enhancing effects of the mergers from the shareholder’s angle by examining by occurrence analysis methods the Central East European acquisition transactions of the seven biggest banking groups between 2000 and 2008. The shareholders as a whole seem to appreciate the acquisition activity of the banks: cumulative abnormal yield is positive in over half the mergers and average abnormal yield of all occurrences is mildly positive as well. The authors evaluate first the acquisition strategies of each banking group. Based on a three-day period round the acquisition announcement, Raiffeisen and OTP seem to have the most successful strategies and Erste the least successful. Light is then shed on investment intentions in each case, but mergers with a positive abnormal yield predominate among the highest and the lowest value transactions. Finally, the investor evaluation of cross-border transactions is no worse than for domestic ones.

Centre-periphery tensions regarding Central and Eastern Europe

Security issues have played an important role in widening the European Union with eight Central and Eastern European economies. The time since have proved these concerns to be correct. The present North-South tension within the Euro-zone highlights even more the West-East tensions inherent in the international relations since the Eastern enlargement. Various divisions – political and economic alike – have already been felt throughout the whole period of 2004-20122 (Balázs, J.1985, 1993, 1995, 1996). The worldwide economic crisis of 2008, however, has revealed even more the hidden tensions in these relations. The political events after the 2010 election in Hungary, those in Romania in 2012, the continuous anti-EU declarations of the Czech president present ample evidence to the fact: the enlargement has been based more on political wishes and will than on firm economic reasoning. The outcome is constant struggle between the parties to keep face and save the state of the European Union. Ongoing political and economic struggles around Greece, Portugal and Spain are other forms of fundamental problems within the European Union. It is worthwhile, hence to study the almost forgotten centre – periphery relations in this respect.

Pivot or periphery? Xinjiang's regional development and Chinese-Central Asian relations at the century's end

Xinjiang, once described by Owen Lattimore as the "pivot of Asia", has played a strategically important role in China's national defense and security. Historically linked on the famous Silk Road with Central Asia, Xinjiang was crucial to East-West economic and cultural exchanges. During the period of Russian/Soviet expansion into Central Asia and Sino-Soviet rivalry, China's need for Xinjiang's defense and territorial integrity became paramount, and consequently Xinjiang's economy was relegated to the periphery.^ The demise of the Soviet Union--which resulted in the independence of five Central Asian states--and China's reform suggest dramatic new possibilities for Xinjiang's regional development as well as interregional cooperation. As China has begun to shift regional emphasis to the interior, Xinjiang's economic development will be accelerated. With the growth of Sino/Xinjiang-Central Asian relations, Xinjiang's importance will not only be borne out in terms of defense and security, but more significantly in terms of trade and economics. At the century's end and the beginning of the 21st century, Xinjiang will likely move away from the periphery and play an increasingly pivotal role in the economy. ^

Geochemical variation among small eruptive centers in the central SVZ of the Andes: An evaluation of subduction, mantle and crustal influences

Subduction zone magmatism is an important and extensively studied topic in igneous geochemistry. Recent studies focus on from where arc magmas are generated, how subduction components (fluids or melts) are fluxed into the source of the magmas, and whether or how the subduction components affect partial melting processes beneath volcanic arcs at convergent boundaries. ^ At 39.5°S in the Central Southern Volcanic Zone of the Andes, Volcano Villarrica is surrounded by a suite of Small Eruptive Centers (SEC). The SECs are located mostly to the east and northeast of the stratovolcano and aligned along the Liquine-Ofqui Fault Zone, the major fracture system in this area. Former studies observed the geochemical patterns of the SECs differ distinctively from those of V. Villarrica and suggested there may be a relationship between the compositions of the volcanic units and their edifice sizes. This work is a comprehensive geochemical study on the SECs near V. Villarrica, using a variety of geochemical tracers and tools including major, trace and REE elements, Li-Be-B elements, Sr-Nd-Pb isotopes and short-lived isotopes such as U-series and 10Be. In this work, systematic differences between the elemental and isotopic compositions of the SECs and those of V. Villarrica are revealed and more importantly, modeled in terms of magmatic processes occurring at continental arc margins. Detailed modeling calculations in this work reconstruct chemical compositions of the primary magmas, source compositions, compositions and percentages of different subduction endmembers mixed into the source, degrees of partial melting and different time scales of the SECs and V. Villarrica, respectively. Geochemical characteristics and possible origins of the two special SECs—andesitic Llizan, with crustal signatures, and Rucapillan, to the northwest toward the trench, are also discussed in this work. ^

Ethnic groups and institutions: A study of institutional engineering in four Central and Eastern European countries

The issue of institutional engineering has gained a renewed interest with the democratic transitions of the Central and Eastern European countries, as for some states it has become a matter of state survival. The four countries examined in the study – Macedonia, Slovakia, Romania and Bulgaria – exemplify the difficulty in establishing a stable democratic society in the context of the resurgence of national identity. The success of ethnonational minorities in achieving the desired policies affirming or expanding their rights as a group was conditioned upon the cohesion of the minority as well as the permissiveness of state institutions in terms of participation and representation of minority members. The Hungarian minorities in Slovakia and Romania, the Turkish minority in Bulgaria, and the Albanian minority in Macedonia, formed their political organizations to represent their interests. However, in some cases the divergence of strategies or goals between factions of the minority group seriously impeded its ability to obtain the desired concessions from the majority. The difficulty in the pursuit of policies favoring the expansion of minority rights was further exacerbated in some of the cases by the impermissiveness of political institutions. The political parties representing the interest of ethnonational minorities were allowed to participate in elections, although not without suspicions about their intent and even strong opposition from majority groups, but participation in elections and subsequent representation in legislative bodies did not translate into adoption of the desired policies. The ethnonational minorities' inability to effectively influence the decision-making process was the result of the inadequacy of democratic institutions to process these demands and channel them through the normal political process in the absence of majority desire to accommodate them. Despite the promise of democratic institutions to bring about a major overhaul of the policies of forceful assimilation and disregard for minority rights, the four cases analyzed in the study demonstrate that in effect ethnonational minorities continued to be at the mercy of the majority, especially if the minority was unable to position itself as a balancing actor.

Geochemistry on manganese nodules from the central Pacific

During Cruise VA 04/2 of the R. V. Valdivia in 1972, numerous samples were collected of manganese nodules, sodiments, and the pore water of the Sediments in the area betwoen 6° N and 11° N and between 149° W and 154° W in the Central Pacific. This paper reports on the geochemical study of 70 manganese nodules from 12 stations (box-core and dredge samples). The nodules Irom a single Station vary considerably in diemical composition. These variations are of the same magnitude as the variations in nodule composition over the entire survey area. The ratios of manganese to nickel, copper, and zinc show good positive correlation as do the ratios of iron to lead and, to a lesser extent, of iron to cobalt. No correlation was found between the environment of the manganese nodules and their metal content. Three internal zones, the outer. intermediate, and core zones, of some nodules were studied in detail. Trends of differences of Chemical composition from surface to core were found for numerous elements and elemental ratios.

Radiogenic neodymium, strontium and lead isotopes of authigenic and detrital sedimentary phases and stable oxygen and carbon isotopes of benthic foraminifera from gravity cores SO213-59-2 and SO213-60-1 (central South Pacific).

The South Pacific is a sensitive location for the variability of the global oceanic thermohaline circulation given that deep waters from the Atlantic Ocean, the Southern Ocean, and the Pacific Basin are exchanged. Here we reconstruct the deep water circulation of the central South Pacific for the last two glacial cycles (from 240,000 years ago to the Holocene) based on radiogenic neodymium (Nd) and lead (Pb) isotope records complemented by benthic stable carbon data obtained from two sediment cores located on the flanks of the East Pacific Rise. The records show small but consistent glacial/interglacial changes in all three isotopic systems with interglacial average values of -5.8 and 18.757 for epsilon Nd and 206Pb/204Pb, respectively, whereas glacial averages are -5.3 and 18.744. Comparison of this variability of Circumpolar Deep Water (CDW) to previously published records along the pathway of the global thermohaline circulation is consistent with reduced admixture of North Atlantic Deep Water to CDW during cold stages. The absolute values and amplitudes of the benthic delta13C variations are essentially indistinguishable from other records of the Southern Hemisphere and confirm that the low central South Pacific sedimentation rates did not result in a significant reduction of the amplitude of any of the measured proxies. In addition, the combined detrital Nd and strontium (87Sr/86Sr) isotope signatures imply that Australian and New Zealand dust has remained the principal contributor of lithogenic material to the central South Pacific.

(Table 1) Sympagic meiofauna and amphipods inhabiting the meltponds in the Central Arctic sampled during POLARSTERN cruise ARK-XXII/2

Meltponds on Arctic sea ice have previously been reported to be devoid of marine metazoans due to fresh-water conditions. The predominantly dark frequently also green and brownish meltponds observed in the Central Arctic in summer 2007 hinted to brackish conditions and considerable amounts of algae, possibly making the habitat suitable for marine metazoans. Environmental conditions in meltponds as well as sympagic meiofauna in new ice covering pond surfaces and in rotten ice on the bottom of ponds were studied, applying modified techniques from sea-ice and under-ice research. Due to the very porous structure of the rotten ice, the meltponds were usually brackish to saline, providing living conditions very similar to sub-ice water. The new ice cover on the surface had similar characteristics as the bottom layer of level ice. The ponds were thus accessible to and inhabitable by metazoans. The new ice cover and the rotten ice were inhabited by various sympagic meiofauna taxa, predominantly ciliates, rotifers, acoels, nematodes and foraminiferans. Also, sympagic amphipods were found on the bottom of meltponds. We suggest that, in consequence of global warming, brackish and saline meltponds are becoming more frequent in the Arctic, providing a new habitat to marine metazoans.