We present a Gaussian-state description of squeezed light generated in an optical parametric oscillator. Using the Gaussian-state description we describe the dynamics of the system conditioned on homodyne detection on the output field. Our theory shows that the output field is squeezed only if observed for long enough times or by a detector with finite bandwidth. As an application of the present approach we consider the use of finite bandwidth squeezed light together with a sample of spin-polarized atoms to estimate a magnetic field.
We show that the description of light in terms of Stokes operators in combination with the assumption of Gaussian statistics results in a dramatic simplification of the experimental study of fluctuations in the light transmitted through an atomic vapor: no local oscillator is required, the detected quadrature is easily selected by a wave-plate angle, and the complete noise ellipsis reconstruction is obtained via matrix diagonalization. We provide empirical support for the assumption of Gaussian statistics in quasiresonant light transmitted through an
87Rb vapor cell and we illustrate the suggested approach by studying the evolution of the fluctuation ellipsis as a function of laser detuning. Applying the method to two light beams obtained by parting squeezed light in a beam splitter, we have measured the entanglement and quantum Gaussian discord.