In this paper, a quantum analysis of the intensity fluctuations is given for above-threshold four-wave mixing oscillation in an atomic system. The conditions for optimum noise suppression below the shot-noise level are discussed. In our calculations, the effects of spontaneous emission and Doppler braodening are included. A comparison is made with the recent experimental results of L.M. Vallet, M. Pinard and G. Grynberg, Europhys. Lett. 11 (1990) 739.
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