A tax on imports that varies over time so as to stabilize the domestic price of the imported good. Essentially, the tax is set equal to the difference between the target domestic price and the world price. Found on http://www-personal.umich.edu/~alandear/glossary/v.html
A tax on imports that varies over time so as to stabilize the domestic price of the imported good. Essentially, the tax is set equal to the difference between the target domestic price and the world price.