A theoretical analysis of the effect of electroabsorption on intensity modulation in Mach-Zehnder interferometers and directional couplers using the quantum-confined Stark effect (QCSE) and the bandfilling (BF) effect is presented. The achievable contrast ratios in the two types of electrorefractive modulators depend differently on the relative strength of the phase versus the amplitude modulation. QCSE is more suitable for directional couplers, while BF is more suitable for Mach-Zehnder interferometers.