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The validity of an eight-band k·p method with the axial approximation for modeling the band structures and optical properties of type-II interband cascade lasers is assessed by comparing its results with those from the standard eight-band k·p method. Explicit expressions for anisotropic k·p interaction terms, which are neglected by the axial approximation, are obtained. Then the band structures and optical properties of practical type-II interband cascade lasers are calculated using both eight-band k·p methods and the numerical results are discussed in detail. It is found that the axial approximation may be problematical for the simulation of type-II interband cascade lasers. [ABSTRACT FROM AUTHOR]