  The interpretation of Fourier spectra in the time domain is critically
examined. Power density spectra defined and calculated in the time domain are
compared with Fourier spectra in the frequency domain for three different types
of variability: periodic signals, Markov processes and random shots. The power
density spectra for a sample of neutron stars and black hole binaries are
analyzed in both the time and the frequency domains. For broadband noise, the
two kinds of power spectrum in accreting neutron stars are usually consistent
with each other, but the time domain power spectra for black hole candidates
are significantly higher than corresponding Fourier spectra in the high
frequency range (10--1000 Hz). Comparing the two kinds of power density spectra
may help to probe the intrinsic nature of timing phenomena in compact objects.
