Restructuring of the U.S. Auto Industry in the 2008-2009 Recession

Thomas Klier and James M. Rubenstein

Economic Development Quarterly, 2013, vol. 27, issue 2, 144-159

Abstract: After many years of declining fortunes, the Detroit Three carmakers were at risk of closure and liquidation during the severe recession of 2008-2009. Efforts by the Bush and Obama administrations to support the carmakers culminated in a government-managed reorganization of Chrysler and General Motors during 2009. As a result of the restructuring, the two carmakers emerged from bankruptcy protection with lower labor costs, higher capacity utilization, and a more concentrated geographic distribution of assembly plants.

Keywords: auto industry; government policy; bankruptcy; recession (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:ecdequ:v:27:y:2013:i:2:p:144-159

DOI: 10.1177/0891242413481243

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