We derive the effective Bose Hamiltonian for a system of interacting excito
ns applying the Usui transformation. The fermionic nonlinearities are consi
stently included, leading to a density dependent correction to the kinetic
Hamiltonian and to a saturation of the exciton oscillator strength. The exc
iton-exciton interaction potentials due to the Coulomb interaction are calc
ulated, accounting for the spin dependence. Starting from the effective Ham
iltonian, we obtain the excitonic Bloch equations. As a first application,
we study the problem of excitonic Rabi oscillations in quantum wells.