Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
It would seem, from the ECB's own description, especially point 1, that the primary virtue they see in their DSGE model is that it allows them to proclaim any policy they wish based on any conditions that arise. This is probably as close to an admission of that reality as we are likely to get.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Apr 8th, 2011 at 09:36:53 AM EST
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