We present a new one-dimensional calculation of low and intermediate energy
atmospheric muon and neutrino fluxes, using up-to-date data on primary cos
mic rays and hadronic interactions. We study several sources of uncertainti
es relevant to our calculations. A comparison with the muon fluxes and char
ge ratios measured in several modern balloon-borne experiments suggests tha
t the atmospheric neutrino flux is essentially lower than one used for the
standard analyses of the sub-GeV and multi-GeV neutrino induced events in u
nderground detectors. (C) 2001 Elsevier Science B,V, All rights reserved.