A linear mapping T from a subspace E of a Banach algebra into another Banach algebra is defined to be spectrally bounded if there is a constant M ≥ 0 such that r(Tx) ≤ Mr(x) for all x ∈ E, where r(·) denotes the spectral radius. We study some basic properties of this class of operators, which are sometimes analogous to, sometimes very different from, those of bounded operators between Banach spaces.

The class of elements of locally finite closed descent in a commutative Fréchet algebra is introduced. Using this notion, those commutative Fréchet algebras in which the algebra ℂ[[X]] may be embedded are completely characterized, and some applications to the theory of automatic continuity are given.

We describe all those commutative Fréchet algebras which may be continuously embedded in the algebra ℂ[[X]] in such a way that they contain the polynomials. It is shown that these algebras (except ℂ[[X]] itself) always satisfy a certain equicontinuity condition due to Loy. Using this result, some applications to the theory of automatic continuity are given; in particular, the uniqueness of the Fréchet algebra topology for such algebras is established.

We consider Fréchet algebras which are subalgebras of the algebra 𝔉 = ℂ [[X]] of formal power series in one variable and of 𝔉ₙ = ℂ [[X₁,..., Xₙ]] of formal power series in n variables, where n ∈ ℕ. In each case, these algebras are taken with the topology of coordinatewise convergence. We begin with some basic definitions about Fréchet algebras, (F)-algebras, and other topological algebras, and recall some of their properties; we discuss Michael's problem from 1952 on the continuity of characters...