Abstract
For an unbounded operator on a Banach space the existence of invariant subspaces corresponding to its spectrum in the left and right half-plane is proved. The general assumption on is the uniform boundedness of the resolvent along the imaginary axis. The projections associated with the invariant subspaces are bounded if is strictly dichotomous, but may be unbounded in general. Explicit formulas for these projections in terms of resolvent integrals are derived and used to obtain perturbation theorems for dichotomy. All results apply, with certain simplifications, to bisectorial operators.
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