A Retrospective Look at Rescuing and Restructuring General Motors and Chrysler

35 Pages Posted: 16 Mar 2015

See all articles by Austan Goolsbee

Austan Goolsbee

University of Chicago - Booth School of Business; National Bureau of Economic Research (NBER)

Alan B. Krueger

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

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.

Keywords: auto bailout, auto industry

JEL Classification: H0, L50, L62, G01, G33

Suggested Citation

Goolsbee, Austan and Krueger, Alan B., A Retrospective Look at Rescuing and Restructuring General Motors and Chrysler. IZA Discussion Paper No. 8888. Available at SSRN: https://ssrn.com/abstract=2578240

Austan Goolsbee (Contact Author)

University of Chicago - Booth School of Business ( email )

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National Bureau of Economic Research (NBER)

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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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