We study the sensitivity and resolution of phase measurement in a Mach-Zehnder interferometer with two-mode squeezed vacuum (<n> photons on average). We show that super-resolution and sub-Heisenberg sensitivity is obtained with parity detection. In particular, in our setup, dependence of the signal on the phase evolves <n> times faster than in traditional schemes, and uncertainty in the phase estimation is better than 1/<n>.
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