Matrix Product States for dynamical simulation of infinite chains

We propose a new method for computing the ground state properties and the time evolution of infinite chains based on a transverse contraction of the tensor network. The method does not require finite size extrapolation and avoids explicit truncation of the bond dimension along the evolution. By folding the network in the time direction prior to contraction, time dependent expectation values and dynamic correlation functions can be computed after much longer evolution time than with any previous method. Moreover, the algorithm we propose can be used for the study of some non-invariant infinite chains, including impurity models.