### Dichotomy and ${S}^{\infty}$ functional calculi.

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This paper is related to the spectral stability of traveling wave solutions of partial differential equations. In the first part of the paper we use the Gohberg-Rouche Theorem to prove equality of the algebraic multiplicity of an isolated eigenvalue of an abstract operator on a Hilbert space, and the algebraic multiplicity of the eigenvalue of the corresponding Birman-Schwinger type operator pencil. In the second part of the paper we apply this result...

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