A stochastic calculus proof of the CLT for the L^{2} modulus of continuity of local time

Abstract

We give a stochastic calculus proof of the Central Limit Theorem \[ {\int (L^{x+h}_{t}- L^{x}_{t})^{2} dx- 4ht\over h^{3/2}} \stackrel{\mathcal{L}}{\Longrightarrow}c(\int (L^{x}_{t})^{2} dx)^{1/2} η\] as $h\to 0$ for Brownian local time $L_t^x$. Here $\eta$ is an independent normal random variable with mean zero and variance one.