The coherent optical response of high quality microcavities containing quan
tum wells is investigated. The dynamics of the ac Stark effect is investiga
ted by degenerate pump-probe experiments, by exciting the quantum well exci
tons at various intensities and detunings. The evolution from a simple dyna
mical excitonic Stark shift to a splitting is dearly observed, even when th
e excitation is degenerate with the continuum states. The experimental resu
lts agree well with the predictions of a theoretical model based on the sem
iconductor Maxwell-Bloch equations.