No label defined (Q3977068)

The author gives a simple proof of the theorem: Suppose \(B_ t\) is a two-dimensional Brownian motion and \(f\) a nonconstant entire function, then \(f(B_ t)\) is a Brownian motion with time clock \(\tau(t)=\int^ t_ 0| f'(B_ s)|^ 2 ds\), i.e. \(f(B_{\gamma(t)})\) is a Brownian motion, where \(\gamma(t)=\hbox{int}\{s:\;\tau(s)>t\}\). This is a special case of a theorem of Lévy. From this Liouville's theorem: ``If \(f\) is a bounded entire function, then \(f\) is constant'' is an easy consequence. In fact if \(f\) is not constant then by Lévy's theorem and the recurrence property of Brownian motion \(f(B_{\gamma(t)})\) would not be bounded which yields a contradiction.