A global approach to first passage times (Q2772056)

Let \(X=\{X_k,k\geq 0\}\) be a discrete-time stochastic process with \(\sup_k X_k=+\infty\) a.s. The related first passage times are \(\nu(t)=\min\{k: X_k>t\}\). The object of this paper is to give a global approach to the subject by mapping the entire process \(X\) to the first passage time process \(\nu\), and examining various continuity properties of this mapping with respect to Skorokhod's \(J_1\) and \(M_1\) topologies. The results are applied to random walks and renewal theory.