Abstract
In this paper we examine the bi-Hamiltonian structure of the generalized KdV-hierarchies. We verify that both Hamiltonian structures take the form of Kirillov brackets on the Kac-Moody algebra, and that they define a coordinated system. Classical extended conformal algebras are obtained from the second Poisson bracket. In particular, we construct the algebras, first discussed for the case and by A. Polyakov and M. Bershadsky.
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