<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2248-6046</journal-id>
<journal-title><![CDATA[Revista Finanzas y Política Económica]]></journal-title>
<abbrev-journal-title><![CDATA[Finanz. polit. econ.]]></abbrev-journal-title>
<issn>2248-6046</issn>
<publisher>
<publisher-name><![CDATA[Universidad Católica de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2248-60462019000100129</article-id>
<article-id pub-id-type="doi">10.14718/revfinanzpolitecon.2019.11.1.8</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Crisis financieras: esta vez no es distinto]]></article-title>
<article-title xml:lang="en"><![CDATA[Financial crises: It is not different this time]]></article-title>
<article-title xml:lang="pt"><![CDATA[Crises financeiras: desta vez não é diferente]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rivera-Lozano]]></surname>
<given-names><![CDATA[Miller]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rivera-Garzón]]></surname>
<given-names><![CDATA[Nicolás]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Santo Tomás Facultad de Administración de Empresas ]]></institution>
<addr-line><![CDATA[Bogotá ]]></addr-line>
<country>Colombia</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Nacional de Colombia Facultad de Ciencias Económicas ]]></institution>
<addr-line><![CDATA[Bogotá ]]></addr-line>
<country>Colombia</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2019</year>
</pub-date>
<volume>11</volume>
<numero>1</numero>
<fpage>129</fpage>
<lpage>147</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S2248-60462019000100129&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S2248-60462019000100129&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S2248-60462019000100129&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN Este artículo presenta una discusión sobre las principales características teóricas de las diferentes tipologías de crisis financieras. Para ello, se hace una explicación detallada del funcionamiento del sistema financiero moderno, la historia reciente de la macroeconomía y las propiedades conceptuales y empíricas de las crisis financieras. Se concluye que un banco central está limitado para actuar contra burbujas de crédito y que los modelos macroeconómicos actuales no pueden explicar correctamente las interacciones dentro los mercados financieros. Asimismo, se deduce la posibilidad de que las economías emergentes en el ámbito mundial sufran crisis financieras en los tiempos próximos. JEL: E44, E58, G10, G28.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[ABSTRACT This article discusses the main theoretical characteristics of several types of financial crises. With this objective in mind, it presents a detailed explanation of the functioning of the modern financial system, recent history of macroeconomics, and the conceptual and empirical properties of financial crises. It concludes that a central bank is limited to act against credit bubbles and that current macroeconomic models cannot explain correctly interactions in financial markets. In addition, it deduces the possibility that emerging economies worldwide will experience financial crisis in the coming months.]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[RESUMO Este artigo apresenta uma discussão sobre as principais características teóricas dos diferentes tipos de crises financeiras. Com esse objetivo em mente, uma explicação detalhada é dada sobre o funcionamento do sistema financeiro moderno, a história recente da macroeconomia e as propriedades conceituais e empíricas das crises financeiras. Dessa forma, conclui-se que um banco central é limitado a agir contra as bolhas de crédito e que os modelos macroeconômicos atuais não conseguem explicar corretamente as interações dentro dos mercados financeiros. Além disso, deduz-se que economias emergentes em todo o mundo sofram crise financeira nos próximos meses.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[burbuja especulativa]]></kwd>
<kwd lng="es"><![CDATA[crisis financieras]]></kwd>
<kwd lng="es"><![CDATA[economías emergentes]]></kwd>
<kwd lng="es"><![CDATA[macroeconomía]]></kwd>
<kwd lng="es"><![CDATA[sistema financiero.]]></kwd>
<kwd lng="en"><![CDATA[Financial crises]]></kwd>
<kwd lng="en"><![CDATA[financial system]]></kwd>
<kwd lng="en"><![CDATA[macroeconomics]]></kwd>
<kwd lng="en"><![CDATA[speculative bubble]]></kwd>
<kwd lng="en"><![CDATA[emerging economies]]></kwd>
<kwd lng="pt"><![CDATA[crises financeiras]]></kwd>
<kwd lng="pt"><![CDATA[sistema financeiro]]></kwd>
<kwd lng="pt"><![CDATA[macroeconomia]]></kwd>
<kwd lng="pt"><![CDATA[bolha especulativa]]></kwd>
<kwd lng="pt"><![CDATA[economias emergentes]]></kwd>
</kwd-group>
</article-meta>
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