Theory of Microwave Parametric Down Conversion and Squeezing Using Circuit QED

We study theoretically the parametric down conversion and squeezing of microwaves using cavity quantum electrodynamics of a superconducting Cooper pair box (CPB) qubit located inside a transmission line resonator. The non-linear susceptibility \chi_2 describing three-wave mixing can be tuned by dc gate voltage applied to the CPB and vanishes by symmetry at the charge degeneracy point. We show that the coherent coupling of different cavity modes through the qubit can generate a squeezed state. Based on parameters realized in recent successful circuit QED experiments, squeezing of 95% ~ 13dB below the vacuum noise level should be readily achievable.