  We study branching processes in an i.i.d. random environment, where the
associated random walk is of the oscillating type. This class of processes
generalizes the classical notion of criticality. The main properties of such
branching processes are developed under a general assumption, known as
Spitzer's condition in fluctuation theory of random walks, and some additional
moment condition. We determine the exact asymptotic behavior of the survival
probability and prove conditional functional limit theorems for the generation
size process and the associated random walk. The results rely on a stimulating
interplay between branching process theory and fluctuation theory of random
walks.
