The Palomar/MSU Nearby Star Spectroscopic Survey III: Chromospheric Activity, M-dwarf Ages and the Local Star Formation History

We present high-resolution echelle spectroscopy of 676 nearby M dwarfs. Our measurements include radial velocities, equivalent widths of important chromospheric emission lines, and rotational velocities for rapidly rotating stars. We identify several distinct groups by their H alpha properties, and investigate variations in chromospheric activity amongst early (M0-M2.5) and mid (M3-M6) dwarfs. Using a volume-limited sample together with a relationship between age and chromospheric activity, we show that the rate of star formation in the immediate Solar Neighbourhood has been relatively constant over the last 4 Gyr. In particular our results are inconsistent with recent large bursts of star formation. We use the correlation between H alpha activity and age as a function of colour to set constraints on the properties of L and T dwarf secondary components in binary systems. We also identify a number of interesting stars, including rapid rotators, radial velocity variables, and spectroscopic binaries.