20130920 Links: Spain's royal family; new paper by John Cochrane; student loans

1. Nice, fairly balanced account of the past and present of the Spanish royal family, by Bob Colacello on Vanity Fair.

2. John Cochrane works seriously through the new-Keynesian model to show how absurd some of those liquidity-trap implications can be. Hint: there is more than equilibrium in this model, and you may be picking the "wrong" one. Blog post. Paper.

3. All that student-loan money gets spent somewhere (from Al Jazeera America).