The ratios between the modulation index (η) for just noticeable FM of a sinusoidally modulated pure tone and the degree of modulation (m) for just noticeable AM at the same carrier and the same modulation frequency were measured at carrier frequencies of 0.125, 0.25, 0.5, 1, 2, 4, and 8 kHz. Signal levels were 20 dB SL and 50 dB SPL or 80 dB SPL. At low modulation frequencies, for example, 8 Hz, AM and FM elicit very different auditory sensations (i.e., a fluctuation in loudness or pitch, respectively). In this case, η and m show different values for just noticeable modulation. Since both stimuli have almost equal amplitude spectra if η equals m ( m<0.3), the difference in detection thresholds reflects differences in the phase relation between carrier and sidebands in AM and FM. With increasing modulation frequency, the η–m ratio decreases and reaches unity at a modulation frequency called the ‘‘critical modulation frequency’’ (CMF). At modulation frequencies above the CMF, the same modulation thresholds are obtained for AM and FM. Therefore, it can be concluded that the difference in phase between the two types of stimuli is not perceived in this range. At center frequencies below 1 kHz, where phase errors caused by headphones and ear canal presumably are small, the CMF is useful in estimating critical bandwidth.