Correlated electronic structure of LaO1-xFxFeAs

We compute the electronic structure, momentum resolved spectral function and optical conductivity of the new superconductor LaO1-xFxFeAs within the combination of the density functional theory and dynamical mean field theory. We find that the compound in the normal state is a strongly correlated metal and the parent compound is a bad metal at the verge of the metal insulator transition. We argue that the superconductivity is not phonon mediated.