The aim is to keep the core model concise so as to focus on the key economic variables that influence inflation, as I have already mentioned. The core model incorporates some basic assumptions about the economy.
But it would also be unfair to turn the crisis into a moral caricature between the virtuous and the profligate, between ants and grasshoppers. As Jens mentioned in one of his recent speeches, several so-called core countries are not in great shape either. Think of low BIS central bankers’ speeches  1  competitiveness and high public debt in France.