Uneven distribution of pulmonary ventilation and perfusion may be studied by continuous recording of the fractional concentration of gases such as He, C02, and O2 during expiration. On the basis of a simple lung model including one balloon and one tube, which may be locally enlarged to a second compartment of a series model with good mixing in each compartment, an exponential function is derived for the exponential part of the expiratory curve. The main parameter, the time constant (T), may be expressed in terms of the minimum radius of curvature (Rmin) of the exponential phase. In the simplest case, Rmin = 2.598 T. By measuring Rmin in helium expiratory curves of normals it is proved that they have no series ventilation in their lungs, if they are in recumbent position at rest.For cases more complex than this model, a study is made of the concentration fronts moving parallel from the alveolar entrances to the mouth. The theory suggests Rmin as a diagnostic criterion for the evaluation of centrilobular emphysema.