Words of analytic paraproducts on Hardy and weighted Bergman spaces

For a fixed analytic function g on the unit disc, we consider the analytic paraproducts induced by g, which are formally defined by $T_gf(z)=\int_0^zf(\zeta)g'(\zeta)d\zeta$, $S_gf(z)=\int_0^zf'(\zeta)g(\zeta)d\zeta$, and $M_gf(z)=g(z)f(z)$. We are concerned with the study of the boundedness of operators in the algebra $\mathcal{A}_g$ generated by the above operators acting on Hardy, or standard weighted Bergman spaces on the disc. The general question is certainly very challenging, since operators in $\mathcal{A}_g$ are finite linear combinations of finite products (words) of $T_g,S_g,M_g$ which may involve a large amount of cancellations to be understood. The results in the paper "Composition of analytic paraproducts, J. Math. Pures Appl. 158 (2022) 293--319" show that boundedness of operators in a fairly large subclass of $\mathcal{A}_g$ can be characterized by one of the conditions $g\in H^\infty$, or $g^n$ belongs to $BMOA$ or the Bloch space, for some integer $n>0$. However, it is also proved that there are many operators, even single words in $\mathcal{A}_g$ whose boundedness cannot be described in terms of these conditions. The present paper provides a considerable progress in this direction. Our main result provides a complete quantitative characterization of the boundedness of an arbitrary word in $\mathcal{A}_g$ in terms of a ``fractional power'' of the symbol $g$, that only depends on the number of appearances of each of the letters $T_g,S_g,M_g$ in the given word.