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We calculate the low-energy limit of heavy quark current correlators withinan expansion in the inverse heavy quark mass. The induced low-energy currentsbuilt from the gluon fields corresponding to the initial heavy quark currentsare obtained from an effective action for gauge fields in the one-loopapproximation at the leading order of the 1/m expansion. Explicit formulae forthe low-energy spectra of electromagnetic and tensor heavy quark currentcorrelators are given. Consequences of the appearance of a nonvanishingspectral density below the two-particle threshold for high precisionphenomenology of heavy quarks are discussed quantitatively.Comment: 21 pages in LaTeX, 2 PostScript figures included in the tex

european physical journal. c, particles and fields

Heavy quark induced effective action for gauge fields in the $SU(N_c)\otimes U(1)$ model and the low-energy structure of heavy quark current correlators