Abstract
Collective field theory for the Calogero model represents particles with fractional statistics in terms of hydrodynamic modes--density and velocity fields. We show that the quantum hydrodynamics of this model can be written as a single evolution equation on a real holomorphic Bose field--the quantum integrable Benjamin-Ono equation. It renders tools of integrable systems to studies of nonlinear dynamics of 1D quantum liquids.
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