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A Retrospective Look at Rescuing and Restructuring General Motors and Chrysler

Author

Listed:
  • Austan D. Goolsbee

    (University of Chicago)

  • Alan B. Krueger

    (Princeton University)

Abstract

This paper takes a retrospective look at the U.S. government's effort to rescue and restructure General Motors and Chrysler in the midst of the 2009 economic and financial crisis. The paper describes how two of the largest industrial companies in the world came to seek a bailout from the U.S. government, the analysis used to evaluate their request, and the steps taken by the government to rescue them. The paper also summarizes the performance of the U.S. auto industry since the bailout and draws some general lessons from the episode.

Suggested Citation

  • Austan D. Goolsbee & Alan B. Krueger, 2015. "A Retrospective Look at Rescuing and Restructuring General Motors and Chrysler," Working Papers 588, Princeton University, Department of Economics, Industrial Relations Section..
  • Handle: RePEc:pri:indrel:588
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    Cited by:

    1. Efraim Benmelech & Ralf R. Meisenzahl & Rodney Ramcharan, 2017. "The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles," The Quarterly Journal of Economics, Oxford University Press, vol. 132(1), pages 317-365.
    2. David Leuwer & Bernd Süssmuth, 2018. "Assessing Temporary Product-Specific Subsidies: A Time Series Intervention Analysis," CESifo Working Paper Series 6946, CESifo Group Munich.
    3. Peter Temin, 2015. "The American Dual Economy: Race, Globalization, and the Politics of Exclusion," Working Papers Series 26, Institute for New Economic Thinking.

    More about this item

    Keywords

    auto bailout; auto industry;

    JEL classification:

    • H0 - Public Economics - - General
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment
    • G01 - Financial Economics - - General - - - Financial Crises
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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