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We prove a universal substitution formula that compares generating series ofEuler characteristics of Nakajima quiver varieties associated with affine ADEdiagrams at generic and at certain nongeneric stability conditions via a studyof collapsing fibres in the associated variation of GIT map, unifying andgeneralising earlier results of the last two authors with N\'emethi and ofNakajima. As a special case, we compute generating series of Eulercharacteristics of noncommutative Quot schemes of Kleinian orbifolds. In type Aand rank 1, we give a second, combinatorial proof of our substitution formula,using torus localisation and partition enumeration. This gives a combinatorialmodel of the fibers of the variation of GIT map, and also leads to relationsbetween our results and the representation theory of the affine and finite Liealgebras in type A.

Euler Characteristics of Affine ADE Nakajima Quiver Varieties via collapsing fibers