The exact Hausdorff measure of the level sets of Brownian motion

Summary We show that if s(t, x) is the local time of a Brownian motion B, and (t)=(2t¦log|logt)^1/2 then –m({s=x})=s(t,x) for all t>=0 and x real a.s., where –m(E) is the Hausdorff -measure of E. This solves a problem of Taylor and Wendel who proved the above equality, up to a multiplicative constant, for x=0.