Renormalization-scheme-invariant QCD and QED: The method of effective charges

We review, extend, and give some further applications of a method recently suggested to solve the renormalization-scheme-dependence problem in perturbative field theories. The use of a coupling constant as a universal expansion parameter is abandoned. Instead, to each physical quantity depending on a single scale variable is associated an effective charge, whose corresponding Stückelberg—Peterman—Gell-Mann—Low function is identified as the proper object on which perturbation theory applies. Integration of the corresponding renormalization-group equations yields renormalization-scheme-invariant results free of any ambiguity related to the definition of the kinematical variable, or that of the scale parameter $\Lambda$, even though the theory is not solved to all orders. As a by-product, a renormalization-group improvement of the usual series is achieved. Extension of these methods to operators leads to the introduction of renormalization-group-invariant Green's function and Wilson coefficients, directly related to effective charges. The case of nonzero fermion masses is discussed, both for fixed masses and running masses in mass-independent renormalization schemes. The importance of the scale-invariant mass $\hat{m}$ is emphasized. Applications are given to deep-inelastic phenomena, where the use of renormalization-group-invariant coefficient functions allows to perform the factorization without having to introduce a factorization scale. The Sudakov form factor of the electron in QED is discussed as an example of an extension of the method to problems involving several momentum scales.