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A multiple contracts version of the SACRE

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  • Faro, Clovis de
  • Lachtermacher, Gerson

Abstract

Taking into consideration that the SACRE (system of increasing amortization in real terms), as originally instituted by Caixa Econômica Federal, is not financially consistent,can exact procedure, denoted as SACRE*, was proposed in de Faro and Lachtermacherc (2012). The present paper submits a multiple contract version of SACRE*. It is shown that, taking into due account the financial institution cost of capital, it is always better to implement the multiple contracts approach.

Suggested Citation

  • Faro, Clovis de & Lachtermacher, Gerson, 2023. "A multiple contracts version of the SACRE," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 837, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    • Handle: RePEc:fgv:epgewp:837
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    References listed on IDEAS

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    1. de Faro, Clovis, 2022. "The constant amortization scheme with multiple contracts," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 76(2), October.
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    1. Faro, Clovis de & Lachtermacher, Gerson, 2025. "Multiple contracts: periodic balloon payments and constant amortization," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 847, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).

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