V_{ub}, V_{cb} and Decay Constants in Effective Field Theory of Heavy Quarks

A new framework of heavy quark effective field theory (HQEFT) is studied and compared with the usual heavy quark effective theory (HQET). $|V_{ub}|$, $|V_{cb}|$ and heavy meson decay constants are extracted in the new framework. HQEFT can yield reasonable results for both exclusive and inclusive decays.