We present a generalized adaptive time-dependent density matrix
renormalization group (DMRG) scheme, called the {\it double time window
targeting} (DTWT) technique, which gives accurate results with nominal
computational resources, within reasonable computational time. This procedure
originates from the amalgamation of the features of pace keeping DMRG
algorithm, first proposed by Luo {\it et. al}, [Phys.Rev. Lett. {\bf 91},
049701 (2003)], and the time-step targeting (TST) algorithm by Feiguin and
White [Phys. Rev. B {\bf 72}, 020404 (2005)]. Using the DTWT technique, we
study the phenomena of spin-charge separation in conjugated polymers (materials
for molecular electronics and spintronics), which have long-range
electron-electron interactions and belong to the class of strongly correlated
low-dimensional many-body systems. The issue of real time dynamics within the
Pariser-Parr-Pople (PPP) model which includes long-range electron correlations
has not been addressed in the literature so far. The present study on PPP
chains has revealed that, (i) long-range electron correlations enable both the
charge and spin degree of freedom of the electron, to propagate faster in the
PPP model compared to Hubbard model, (ii) for standard parameters of the PPP
model as applied to conjugated polymers, the charge velocity is almost twice
that of the spin velocity and, (iii) the simplistic interpretation of
long-range correlations by merely renormalizing the {\it U} value of the
Hubbard model fails to explain the dynamics of doped holes/electrons in the PPP
model.Comment: Final (published) version; 39 pages, 13 figures, 1 table; 2 new
references adde
