01680cas a2200253 a 4500 AALejournalIMF016938 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498352826 1018-5941 BD-DhAAL BD-DhAAL Ho, Wai-Yip Alex. Inflation, Financial Developments, and Wealth Distribution / Wai-Yip Alex Ho, Chun-Yu Ho. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (51 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We find that from 1995 to 2002 in China, the dispersion of wealth decreased, the moneywealth ratio increased for all wealth levels and the aggregate money-output ratio increased. We develop a two-asset dynamic general equilibrium model in which households face a portfolio adjustment cost and a borrowing constraint. We find that financial development lowers the dispersion of wealth by reducing the precautionary motive of households. In addition, tight monetary policies increase the value of money and thus increase the moneywealth ratio for all wealth levels and the aggregate money-output ratio. Mode of access: Internet Ho, Chun-Yu. IMF Working Papers; Working Paper ; No. 2016/132 Full text available on IMF http://elibrary.imf.org/view/journals/001/2016/132/001.2016.issue-132-en.xml IMF e-Library