The Rise of Health Economics: Transforming the Landscape of Economic Research

This paper explores the evolving role of health economics within economic research and publishing over the past 30 years. Historically, largely a niche field, health economics has become increasingly prominent, with the share of health economics papers in top journals growing significantly. We aim to identify the factors behind this rise. Using a combination of bibliometric methods and natural language processing (NLP), we classify abstracts to define health economics. Adapting NLP methods to evaluate the novelty, impact, and quality of academic papers, we demonstrate that the mainstreaming of health economics is driven by innovative, high-quality research, with two notable waves in quality ratings that highlight the emergence and impact of distinct subfields within the discipline. We find a strong positive correlation between citations and quality ratings, with health economics papers receiving fewer citations for their quality compared to other economics fields. Pandemic-related research received a high number of citations during 2020 and 2021; however, our findings indicate that this work was not systematically more novel or impactful than prior studies within the same subfield.