Possible realization of the Exciton Bose Liquid phase in a hard-core boson model with ring-only exchange interactions

We investigate a hard-core boson model with ring-only exchanges on a square lattice, where a $K_1$ term acts on 1$\times$1 plaquettes and a $K_2$ term acts on 1$\times$2 and 2$\times$1 plaquettes, with a goal of realizing a novel Exciton Bose Liquid (EBL) phase first proposed by Paramekanti, et al [Phys. Rev. B {\bf 66}, 054526 (2002)]. We construct Jastrow-type variational wave functions for the EBL, study their formal properties, and then use them as seeds for a projective Quantum Monte Carlo study. Using Green's Function Monte Carlo, we obtain an unbiased phase diagram which at half-filling reveals CDW for small $K_2$, valence bond solid for intermediate $K_2$, and possibly for large $K_2$ the EBL phase. Away from half-filling, the EBL phase is present for intermediate $K_2$ and remains stable for a range of densities below 1/2 before phase separation occurs at lower densities.