Plant closings: Lessons from the maine experience |
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| Authors: | Andrew M Baker |
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| Institution: | Mr. Baker is a consultant with Arthur D. Little, Inc. in Cambridge, Massachusetts, where he is involved in economic and financial analysis of regulatory issues. Prior to joining Arthur D. Little, Mr. Baker held a position with Merck & Co. Inc., where he assisted in establishing corporate policy on plant closings. He also held a position with the New Jersey Commission on Science and Technology, where he analyzed economic development projects to promote high technology in the state. This paper was begun while Mr. Baker was a graduate student at the Woodrow Wilson School of Public and International Affairs at Princeton University, from which he received the Master in Public Affairs degree. Mr. Baker received a B.A. in Public Poiicy from the Maxwell School o f Citizenship and Public Affairs and a B.S. in Communications from the Newhouse School of Public Communications at Syracuse University. Mr. Baker wishes to thank Professors Alan Krueger, Rebecca Blank, and Richard Nathan of Princeton University, who worked closely with him on the study and provided invaluable criticisms and suggestions. Any remaining errors are the author's alone. |
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| Abstract: | This paper discusses the economics behind plant closings, suggests a possible role for public policy to ameliorate the effects of closings in some situations, and reviews Maine's experience with mandatory advance notice of closings and severance payments. The possibility of a less flexible labor market in Maine is noted, as are areas for future research. Finally, the economic and political history of Maine's experience with plant closing legislation is discussed in terms of its implications for similar legislation at the federal level. |
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