@techreport{NBERw18044,
 title = "Cash for Coolers",
 author = "Lucas W. Davis and Alan Fuchs and Paul J. Gertler",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "18044",
 year = "2012",
 month = "May",
 URL = "http://www.nber.org/papers/w18044",
 abstract = {This paper examines a large-scale appliance replacement program in Mexico that since 2009 has helped 1.5 million households replace their old refrigerators and air-conditioners with energy-efficient models. Using household-level electric billing records from the population of Mexican residential customers we find that refrigerator replacement reduces electricity consumption by an average of 11 kilowatt hours per month, about a 7% decrease. We find that air conditioning replacement, in contrast, increases electricity consumption by an average of 6 kilowatt hours per month, with larger increases during the summer. To put these results in context we present a simple conceptual framework in which energy-efficient durable goods cost less to operate, so households use them more. This behavioral response, sometimes called the “rebound” effect, is important for air-conditioners, but not important for refrigerators.},
}