A theoretical investigation of cavity QED effects in semiconductor microcav
ities containing quantum wells is presented. A model Hamiltonian is used to
derive equations of motion for the quantum photon and exciton fields in th
e cavity. Quantum effects such as squeezing and antibunching are predicted
in the light field going out of the cavity under irradiation by a coherent
laser field, if exciton-phonon scattering is weak enough. Exciton-phonon sc
attering is shown to destroy the nonclassical effects and to yield excess n
oise in the output field.