The nature of the beat modulations observed in nonlinear four-wave mix
ing in semiconductors is determined by spectral resolution of the time
-integrated four-wave-mixing signals. Beats between close-lying bound-
exciton resonances in CdSe are found to be described by macroscopic po
larization interferences between two noninteracting two-level systems.
Beats between heavy-hole excitons and light-hole excitons in GaAs qua
ntum wells, on the other hand, are described by a three-level system,
i.e., as a true quantum interference phenomenon.