Prof. Tibor Besedes presented his paper "The Effects of Airspace  Closures on Trade in the Aftermath of Eyjafjallajökull" at the 2014  European Trade Study Group Conference, the largest gathering of  international trade economists in the world. The paper estimates the  extent to which a disruption to international transportation networks  reduces international trade using the 2010 eruption of the  Eyjafjallajökull volcano on Iceland as a natural experiment. The paper  examines the susceptibility of international trade to transportation  disruptions and the risk that supply chains are exposed to during such  events.