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In this paper we establish new $L^1$-type estimates for the classical Riesz potentials of order $\alpha \in (0, N)$: \[ \|I_\alpha u\|_{L^{N/(N-\alpha)}(\mathbb{R}^N)} \leq C \|Ru\|_{L^1(\mathbb{R}^N;\mathbb{R}^N)}. \] This sharpens the result of Stein and Weiss on the mapping properties of Riesz potentials on the real Hardy space $\mathcal{H}^1(\mathbb{R}^N)$ and provides a new family of $L^1$-Sobolev inequalities for the Riesz fractional gradient.

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We study the energy-critical focusing non-linear wave equation, with data in the energy space, in dimensions 3, 4 and 5. We prove that for Cauchy data of energy smaller than the one of the static solution$W$which gives the best constant in the Sobolev embedding, the following alternative holds. If the initial data has smaller norm in the homogeneous Sobolev space$H$^{1}than the one of$W$, then we have global well-posedness and scattering. If the norm is larger than the one of$W$, then we have break-down in finite time.