Abstract
The problem of a system of two-level atoms in multiphoton (collective) interaction with a single mode of the quantized electromagnetic field is considered. The Holstein-Primakoff transformation is used to transform the model to a boson-boson interaction, and then the problem is treated as a parametric amplifier. Under a certain intergability condition an exact solution for the Heisenberg equations of motion is given. The phenomenon of squeezing as well as the statistical investigations are discussed.