Proper Time Flow Equation for Gravity

We analyze a proper time renormalization group equation for Quantum Einstein Gravity in the Einstein-Hilbert truncation and compare its predictions to those of the conceptually different exact renormalization group equation of the effective average action. We employ a smooth infrared regulator of a special type which is known to give rise to extremely precise critical exponents in scalar theories. We find perfect consistency between the proper time and the average action renormalization group equations. In particular the proper time equation, too, predicts the existence of a non-Gaussian fixed point as it is necessary for the conjectured nonperturbative renormalizability of Quantum Einstein Gravity.