The paper presents the review of the latest works at the University of Moscow in the field of pulsed parametric oscillators and the new application of parametric light interaction—nonlinear spectrograph. This spectrograph is based on the steep frequency dependence of phase-matched angles for nonlinear mixing processes. Two new types of oscillators are considered: one having a cavity without dielectric coatings, the other a travelling-wave oscillator that is really an amplifier of parametric superluminescence. The latter has a narrow spectrum of radiation (1–2 Å). The most possible applications of oscillators and their necessary characteristics are given. Copyright © 1968 by The Institute of Electrical and Electronics Engineers, Inc.