In order to focus attention on changes in saving and consumption across seasons,as opposed to changes in saving and consumption across longer time periods,I begin with a simple framework in which individuals know,with complete certainty,what their incomes will be in each season for all following years.I assume that income for any individual in each season is fixed over time,as are season-specific preferences and prices.This framework eliminates motivations for saving due to life cycle factors or to unexpected shocks to income.I consider below how extensions to a dynamic framework affect the empirical implications of the model.