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A self-pulsating laser is used to generate a multicarrier (five radio frequency (RF) channels) microwave optical signal for use in a hybrid radio/fiber system. The self-pulsation is achieved by external light injection into the laser diode. By varying the RF channel spacing, we have been able to estimate the degradation in system performance due to intermodulation distortion (caused by the nonlinear dynamic response of the laser). The power penalty on the central RF channel is found to be 3.2 dB for operation at the RF band around the laser self-pulsation frequency of 18.5 GHz. We have also characterized the performance of the multicarrier hybrid radio/fiber system in the frequency band corresponding to the inherent relaxation frequency of the laser.