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

Author:

Klier Thomas1,Rubenstein James M.2

Affiliation:

1. Federal Reserve Bank of Chicago, Chicago, IL, USA

2. Miami University, Oxford, OH, USA

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.

Publisher

SAGE Publications

Subject

Urban Studies,Economics and Econometrics,Development

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