A Retrospective Look at Rescuing and Restructuring General Motors and Chrysler

34 Pages Posted: 9 Mar 2015

See all articles by Austan D. Goolsbee

Austan D. Goolsbee

University of Chicago - Booth School of Business

Alan B. Krueger

Princeton University - Industrial Relations Section; National Bureau of Economic Research (NBER); IZA Institute of Labor Economics

Date Written: March 2015

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

Goolsbee, Austan D. and Krueger, Alan B., A Retrospective Look at Rescuing and Restructuring General Motors and Chrysler (March 2015). NBER Working Paper No. w21000. Available at SSRN: https://ssrn.com/abstract=2575486

Austan D. Goolsbee (Contact Author)

University of Chicago - Booth School of Business ( email )

5807 S. Woodlawn Avenue
Chicago, IL 60637
United States

Alan B. Krueger

Princeton University - Industrial Relations Section ( email )

Princeton, NJ 08544-2098
United States
609-258-4046 (Phone)
609-258-2907 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

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