The field of behavioral finance studies the behavior of the investment markets. Similarly, the field of behavioral economics studies the behavior of the global economy and the numerous national, regional, and local economies.

But what of the field of behavioral accounting? How does it resemble the fields of behavioral finance and economics? And how does it differ?

April’s 14.7 percent unemployment rate, announced by the Labor Department last Friday, is awful by any standard. The official tally shows that unemployment increased by 15,938,000 people last month—to 23,078,000 overall—resulting in the highest jobless rate since the Great Depression. 

Co-authored with Jill Frew.

With stunning swiftness, COVID-19 knocked America’s healthcare delivery system to its knees.

A month into the crisis, normal hospital operations are in upheaval. Avoiding in-person care has become the norm and the volume of admissions, surgeries and ER visits has plummeted. Overwhelming demand for ICUs, ventilators and personal protective equipment (PPE) has strained delivery and supply chains to the breaking point.

After a Devastating 20Q2 (-30% or More Drop in Real GDP), The U.S. Headed for Big Summer Gain, Late Fall Slump, and then a Sustained Post-Vaccine Expansion. Real GDP Should Finally Surpass Its 19Q4 Peak in 21Q3

In our recent article we identified the following five margin pressures that are coalescing to drive more value into the delivery of healthcare services:

We have another week of data on the US commercial banks’ assets and liabilities. Deposits rose by 2.6% in the week to 25th March, after a (revised) increase of 2.2% in the previous week. The increase in the fortnight to 25th March may have been the highest ever in such a short period of time. The implied annualised rate of increase was not much less than 250%.
 

The future shape of the economic crisis driven by the federal government’s inadequate response to the coronavirus pandemic are coming into focus. The widespread social isolation that has sent both the demand for and production of goods and services into a free-fall reflects our spotty knowledge about the contagiousness and lethality of the virus. At the same time, we don’t know where hospital admissions will spike next. These new facts of life point to two potential economic scenarios, based on aspects of the virus that are beyond our control.