Young's Modulus for steel
Young's Modulus (the modulus of elasticity) for steel is approximately 29 x 10 to the 6th power Pounds per Square Inch. (I don't know how to use superscripts in this formatting). This is largely independent of the actual composition of the steel or the degree of tempering.
This value is the slope of the stress-strain curve for steel in the elastic range. (i.e. if you let go of the stress, the steel will return to it's original shape). Strain is unitless, so the slope of this curve is expressed as P.S.I. Young's modulus allows you to calculate how much stress is required to move a material a given distance. It is essentially a measure of "stiffness"
The steel barrell is elastic. It can be stretched or constricted as much as you might like (until it fails catastrophically) by tha application of an external force.
All you need to do is figure out how much you want to constrict the bore, and then you can calculate how much stress is required to apply. You could use an aluminum sleeve, a steel sleeve, or any other suitable engineering material to apply the needed force to the outside of the barrel.
In case anyone was wondering, I'm a Metallurgical Engineer by trade, and a shooter by hobby. Although I'm primarily involved in Smallbore Silhouette Shooting, I enjoy the benchrest forums due to the ultimate emphasis on accuracy.
SteveM.