We investigate the effects of exchange and correlation on the quasiparticle properties such as the selfenergy, the manybody effective mass and the renormalization constant in a twodimensional system of ultracold dipolar fermions with dipole moments aligned in the perpendicular direction to the plane. We use the G0W approximation along with the generalized random phase approximation, where the manybody effects have been incorporated in the effective interaction
W through the Hubbard localfield factor. The manybody effective mass and the renormalization constant are reduced with the increase of coupling strength. We also study the effect of dipoledipole interaction on the singleparticle spectral function of the two dimensional dipolar Fermi liquid. We observe composite holezero sound excitation which are bound states of quasiparticles with the collective mode (i.e. zerosound) at intermediate and high coupling constants. These composite excitations are undamped at small wavevectors. Due to repulsion between quasiparticle and composite excitation resonances, we find a gaplike feature between quasiparticle and composite excitation dispersions at long wavelengths.
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