In this paper we derive the intensity and phase noise spectra of a single-mode semiconductor laser on the basis of an operatorial Langevin set of equations that includes the dynamics of the microscopic variables, i.e., the carrier polarization and their distribution over the k states. In particular we take into account the fact that the carriers pumped into the active layer are subject to the blocking determined by Pauli exclusion principle. We demonstrate that, due to the fastness of the carrier scattering and polarization dephasing processes, the noise spectra can be determined on the basis of a macroscopic linearized set of three equations for the two quadrature components of the laser intensity and the total carrier number. A formal comparison with the paradigmatic results of [Yamamoto et al. Phys. Rev. A 34, 4025 (1986)] allows to deduce that the only essential difference arises from Pauli-induced pump blocking, which has the effect of increasing the low-frequency branch of the intensity noise spectrum. We demonstrate that, even for very small amounts of pump blocking, the low-frequency intensity noise steeply rises with the stationary value of the carrier density in the active layer, which depends on a great number of parameters. This result can explain the erratic behavior of the experimental findings and their discrepancy with the standard theoretical predictions.
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