The solar dynamo: inferences from observations and modeling
  It can be shown on observational grounds that two basic effects of dynamo theory for solar activity - production of the toroidal field from the poloidal one by differential rotation and reverse conversion of the toroidal field to the poloidal configuration by helical motions - are operating in the Sun. These two effects, however, do not suffice for constructing a realistic model for the solar dynamo. Only when a non-local version of the alpha-effect is applied, is downward diamagnetic pumping included and field advection by the equatorward meridional flow near the base of the convection zone allowed for, can the observed activity cycles be closely reproduced. Fluctuations in the alpha-effect can be estimated from sunspot data. Dynamo models with fluctuating parameters reproduce irregularities of solar cycles including the grand activity minima. The physics of parametric excitation of irregularities remains, however, to be understood. 
L. L. Kitchatinov
astro-ph.SR