We study the pseudoscalar, vector and axial current correlation functions in SU(2)-NJL model with scalar and vector couplings. The correlation functions are evaluated in leading order in number of colors $N_c$. As it is expected in the pseudoscalar channel pions appear as Goldstone bosons, and after fixing the cutoff to reproduce the physical pion decay constant, we obtain well-known current-algebra results. For the vector and axial channels we use essentially that at spacelike momenta the correlation functions can be related to the experimentally known spectral density via dispersion relations. We show that the latter imposes strong bounds on the strength of the vector coupling in the model. We find that the commonly used on-shell treatment of the vector and axial mesons (identified as poles at large timelike momenta) fails to reproduce the behavior of the corresponding correlation functions at small spacelike momenta extracted from the physical spectral density. The parameters of the NJL model fixed by the correlation functions at small spacelike momenta differ noticeably from those of the on-shell treatment.
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