Introduction: the economy and the environment -- Changing perspectives on the environment -- Resources, environment, and economic development -- Economic analysis of environmental issues -- The theory of environmental externalities -- Common property resources and public goods -- Resource...

This paper describes a new model, Climate and Regional Economics of Development (CRED), which is designed to analyze the economics of climate and development choices. Its principal innovations are the treatment of global equity, calculation of the optimum interregional flows of resources, and...