Seed light pulses and pump light pulses are generated; the seed light pulses are preferably chirped; and both are directed into an enhancement cavity at a full repetition rate. The enhancement cavity defines a closed optical path that contains a nonlinear medium that provides phase matching at a wavelength different from both the central seed wavelength and the central pump wavelength. The generation of the pump light pulses and the seed light pulses are synchronized to pass the seed light pulses through the nonlinear medium simultaneously with the pump light pulses to parametrically amplify the seed light pulses in the nonlinear medium to produce an amplified signal pulse and idler pulse. Increased conversion with low average pump power can be achieved, as well as gain bandwidth enhancement approaching octave-spanning levels. Additionally, in the case of chirped pump pulses with sufficient bandwidth, optimal output coupling can be designed to achieve the best impedance matching at each temporal coordinate and attain the highest possible conversion and bandwidth.