Abstract
We prove that any proof of a [Formula: see text] sentence in the theory [Formula: see text] can be translated into a proof in [Formula: see text] at the cost of a polynomial increase in size. In fact, the proof in [Formula: see text] can be obtained by a polynomial-time algorithm. On the other hand, [Formula: see text] has nonelementary speedup over the weaker base theory [Formula: see text] for proofs of [Formula: see text] sentences. We also show that for [Formula: see text], proofs of [Formula: see text] sentences in [Formula: see text] can be translated into proofs in [Formula: see text] at a polynomial cost in size. Moreover, the [Formula: see text]-conservativity of [Formula: see text] over [Formula: see text] can be proved in [Formula: see text], a fragment of bounded arithmetic corresponding to polynomial-time computation. For [Formula: see text], this answers a question of Clote, Hájek and Paris.