The formal shift operator on the Yangian double

Let $\mathfrak{g}$ be a symmetrizable Kac-Moody algebra with associated Yangian $Y_\hbar\mathfrak{g}$ and Yangian double $\mathrm{D}Y_\hbar\mathfrak{g}$. An elementary result of fundamental importance to the theory of Yangians is that, for each $c\in \mathbb{C}$, there is an automorphism $\tau_c$ of $Y_\hbar\mathfrak{g}$ corresponding to the translation $t\mapsto t+c$ of the complex plane. Replacing $c$ by a formal parameter $z$ yields the so-called formal shift homomorphism $\tau_z$ from $Y_\hbar\mathfrak{g}$ to the polynomial algebra $Y_\hbar\mathfrak{g}[z]$. We prove that $\tau_z$ uniquely extends to an algebra homomorphism $\Phi_z$ from the Yangian double $\mathrm{D}Y_\hbar\mathfrak{g}$ into the $\hbar$-adic closure of the algebra of Laurent series in $z^{-1}$ with coefficients in the Yangian $Y_\hbar\mathfrak{g}$. This induces, via evaluation at any point $c\in \mathbb{C}^\times$, a homomorphism from $\mathrm{D}Y_\hbar\mathfrak{g}$ into the completion of the Yangian with respect to its grading. We show that each such homomorphism gives rise to an isomorphism between completions of $\mathrm{D}Y_\hbar\mathfrak{g}$ and $Y_\hbar\mathfrak{g}$ and, as a corollary, we find that the Yangian $Y_\hbar\mathfrak{g}$ can be realized as a degeneration of the Yangian double $\mathrm{D}Y_\hbar\mathfrak{g}$. Using these results, we obtain a Poincar\'{e}-Birkhoff-Witt theorem for $\mathrm{D}Y_\hbar\mathfrak{g}$ applicable when $\mathfrak{g}$ is of finite type or of simply-laced affine type.