Calcagno, Riccardo; Kraeussl, Roman; Monticone, Chiara - Tinbergen Instituut - 2008
We study the effects of the reform of the system of severance payments (TFR) of Italian employees on the cost and the access to credit for small and medium-size enterprises (SMEs). The most direct consequence of the reform is to reduce in the long run the amount of liquid assets available to...
