3.6. Cascode Stage
The voltage gain can be written as -GmRout. In this circuit, Gm ≈ gm1 and Rout ≈ (gm2 + gmb2)rO2rO1. The cascode configuration greatly increases the output impedance at the cost of headroom.
The DC value at the output of such configuration is poorly defined, hence the circuit must be biased in a negative-feedback loop.
The “poor man’s cascode” here places M2 in triode region. If M1 and M2 have identical dimensions, the structure is equivalent to a single transistor having twice the length. However, if M1 and M2 have different VTH, M2 may operate in saturation.
Cascoding reduces the mismatch between ID1 and ID2 by a factor of (gm3 + gmb3)rO3.