On RG-flow and the Cosmological Constant

The AdS/CFT correspondence implies that the effective action of certain strongly coupled large $N$ gauge theories satisfy the Hamilton-Jacobi equation of 5d gravity. Using an analogy with the relativistic point particle, I construct a low energy effective action that includes the Einstein action and obeys a Callan-Symanzik-type RG-flow equation. It follows from the flow equation that under quite general conditions the Einstein equations admit a flat space-time solution, but other solutions with non-zero cosmological constant are also allowed. I discuss the geometric interpretation of this result in the context of warped compactifications.