Using unitary transformations, we express the Kondo lattice Hamiltonian in
terms of fermionic operators that annihilate the ground state of the
interacting system and that represent the best possible approximations to the
actual charged excitations. In this way, we obtain an effective Hamiltonian
which, for small couplings, consists in a kinetic term for conduction electrons
and holes, an RKKY-like term, and a renormalized Kondo interaction. The
physical picture of the system implied by this formalism is that of a vacuum
state consisting in a background of RKKY-induced spin correlations, where two
kinds of elementary modes can be excited: Soft neutral modes associated with
deformations of the spin liquid, which lead to very large low-temperature
values of the heat capacity and magnetic susceptibility, and charged modes
corresponding to the excitation of electrons and holes in the system. Using the
translational and spin rotational symmetries, we construct a simple ansatz to
determine the charged excitations neglecting the effects of the spin
correlations. Apart from the `normal', uncorrelated states, we find strongly
correlated charged modes involving soft electrons (or holes) and spin
fluctuations, which strongly renormalize the low-energy charged spectrum, and
whose energy becomes negative beyond a critical coupling, signaling a vacuum
instability and a transition to a new phase.Comment: 35 pages, revtex 3.