The steady-state analysis of a single-mode two-photon laser are treated sem
iclassically by using the Maxwell-Bloch equations. The theory is applied to
a ring-laser model. We find similarities and significant differences betwe
en the one- and two-photon polarizations of the medium, population inversio
n and mode-pulling formula. The population inversion and the longitudinal v
ariation of the steady-state modulus of the field are studied numerically.