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Restructuring during recessions: a silver lining in the cloud?

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  • Keith Sill

Abstract

Recessions usually mean bad times for many workers and firms: companies close; jobs are lost. However, recessions can present certain opportunities for organizations. For example, restructuring can be less costly during a recession: workers can be retrained and machines upgraded. In turn, these actions position a company to take advantage of the next economic upturn. In this article, Keith Sill discusses the \\"creative destruction\\" that takes place during recessions and outlines some of the policy implications of restructuring

Suggested Citation

  • Keith Sill, 1998. "Restructuring during recessions: a silver lining in the cloud?," Business Review, Federal Reserve Bank of Philadelphia, issue May, pages 15-31.
    • Handle: RePEc:fip:fedpbr:y:1998:i:may:p:15-31
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/business-review/1998/may-june/brmj98ks.pdf
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    References listed on IDEAS

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