According to MY dermatologist, dry skin does NOT cause wrinkles.
Dry skin CAN exacerbate the appearance of existing wrinkles, but moisturizing your face will NOT reduce the rate at which ones skin develops new wrinkles.
Sorry, but it's a myth.
Wrinkles are caused by a combination of gravity, ageing of the skin that manifests itself in progressively slower turnover of skin cells, and damage to underlying connective tissue, generally caused by the sun.
All that moisturization does is "puff up" the surface layer of dead skin cells, making small surface discrepancies less visible. It doesn't help fight the underlying cause of wrinkles.
If you REALLY want to fight wrinkles, there are topicals that fight two of the three causes above. There is nothing we can do about gravity... but regular application of alpha hydroxy acid skin peels exfoliates and increases the cell turnover on the facial surface so that the outer, and visible, layer of skin is made up of younger skin cells. Copper peptides help repair underlying tissue structure, as does Retinoin (Retin A).
The best way to keep your skin moisturized is not to apply a topical moisturizer, but to stay well hydrated internally. This means drinking more water. Sleep also has a big impact on skin tone, for some reason, when you short yourself sleep, it tends to affect the skin rather dramatically in the form of enlarged pores and droopiness.
Another factor in skin health is the removal of dirt. Dirt collects in sebum, and clogs pores causing acne. Every day, one needs to remove the sebum to remove the dirt. My dermatologist recommended a daily wash of the face with REAL soap and water, using a washcloth in a gentle circular motion to also exfoliate as dead skin cells are a factor in the acne equation as well. He said that you really have to CLEAN you skin, and although this strips the skin of sebum, it is crucial that the dirt and dead skin that the sebum carries is removed from your face. Additionally, sebum is full of excreted body wastes and toxins. You need to get it OFF your face.
After washing, if your skin type is sensitive you could, optionally, replace this layer of lipids by applying a non-comedegenic moisturizer. This replaces the "puffed up" healthiness that sebum provides, but does it with a substance that is free of dirt, dead skin, and excreted toxins.