Online First Journal of Money, Credit and Banking Online 25 May 2026The Welfare and Distributional Consequences of Corporate Tax Cuts in Open EconomiesMamoon Kader · Hashmat Khan · Minjoon Lee · Raúl Razo-GarcíaThis paper uses an open-economy heterogeneous-household model with incomplete markets to evaluate the welfare and distributional consequences of the U.S. Tax Cuts and Jobs Act (TCJA) of 2017 — which …