Abstract
We prove the existence as well as regularity of a finite range decomposition for the resolvent $G_{\alpha} (x-y,m^2) = ((-\Delta)^{\alpha\over 2} + m^{2})^{-1} (x-y) $, for $0<\alpha<2$ and all real $m$, in the lattice ${\mathbf Z}^{d}$ as well as in the continuum ${\mathbf R}^{d}$ for dimension $d\ge 2$. This resolvent occurs as the covariance of the Gaussian measure underlying weakly self- avoiding walks with long range jumps (stable L\'evy walks) as well as continuous spin ferromagnets with long range interactions in the long wavelength or field theoretic approximation. The finite range decomposition should be useful for the rigorous analysis of both critical and off-critical renormalisation group trajectories. The decomposition for the special case $m=0$ was known and used earlier in the renormalisation group analysis of critical trajectories for the above models below the critical dimension $d_c =2\alpha$.