We investigate the strong correlation effect in the spinless electron-hole two-band Hubbard model using the dynamical mean-field theory. At half filling, both the renormalization factor
Z and the number of conduction electrons (valence holes)
nc decrease with increasing the interband Coulomb interaction
U down to
Z∼0.15 and
nc∼0.1 for $U_c \sim \mbox{bandwidth}$ at which the first-order Lifshitz transition occurs from a correlated semimetal with a large effective mass
m∗/m=Z−1 to a band insulator with a finite gap due to the Hartree shift. A slight hole doping
x in the band insulator with a large
U>Uc yields a remarkable correlated semimetal with
Z∼0.1 at
x∼0.01, where in-gap states emerge above the valence band top and those weights increase with increasing
x together with the increase in
Z similar to the in-gap states observed in doped Mott insulators.
A CuO chain with one or two holes doped is studied via the two-band Hubbard model in the large-U limit on a finite cluster. The quasiparticle band is
Ek\ensuremath{\sim}0.87J cos(2ka) with the bottom at ka=\ensuremath{\pi}/2. The quasiparticles are kinks which have the character of three-spin polarons. The copper spin excitations are incommensurate spin waves. The two doped holes repel each other very slightly, in contrast to the slight attraction in the t-J model. Spin-charge separation also occurs.