Inflation, financial developments, and wealth distribution /

Inflation, financial developments, and wealth distribution /

Saved in:

Bibliographic Details
Author / Creator:	Ho, Wai-Yip Alex, author, (IMF staff)
Imprint:	[Washington, D.C.] : International Monetary Fund, [2016] ©2016
Description:	1 online resource (51 pages) : color illustrations
Language:	English
Series:	IMF working paper ; WP/16/132 IMF working paper ; WP/16/132.
Subject:	Income distribution -- China. Wealth -- China. Income -- China. Monetary policy -- China. Income. Income distribution. Monetary policy. Wealth. China.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12507513

Hidden Bibliographic Details
Other authors / contributors:	Ho, Chun-Yu, author. International Monetary Fund, publisher. International Monetary Fund. Institute for Capacity Development, issuing body.
ISBN:	9781498352826 1498352820
Notes:	"July 2016." At head of title: Institute for Capacity Development. Includes bibliographical references (pages 48-50). Online resource; title from pdf title page (IMF.org Web site, viewed September 9, 2016).
Summary:	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.
Other form:	Print Version: Ho, Wai-Yip Alex. Inflation, Financial Developments, and Wealth Distribution. Washington, D.C. : International Monetary Fund,2016 9781498352826
Standard no.:	10.5089/9781498352826.001

Description
Summary:	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.
Item Description:	"July 2016." At head of title: Institute for Capacity Development.
Physical Description:	1 online resource (51 pages) : color illustrations
Bibliography:	Includes bibliographical references (pages 48-50).
ISBN:	9781498352826 1498352820