A Phenomenological Theory of Loop-Current Phases
  A phenomenological theory of the loop-current and loop-spin-current phases is proposed. In order to investigate the stability of these phases, a Ginzburg-Landau-Wilson type action is constructed as a functional of the orbital magnetization. From the analysis of this action based on the Landau theory and momentum-shell one-loop renormalization group theory, it is found that the loop-current and loop-spin-current phases are stable if a certain interaction between the orbital magnetizations is sufficiently large. Moreover, these phases are likely to be stable in systems with large orbital susceptibility, for example, Dirac electron systems. 
Shimpei Goto, Susumu Kurihara
cond-mat.str-el