For a quasimonochromatic light source with a known spectrum, the polarization Michelson interferometer (POLMINT) can be used as a global polarization state generator that produces totally or partially polarized light at its output in states of known degree of polarization that correspond to points on and within the Poincare´ sphere. Conversely, the spectral and coherence properties of a quasimonochromatic source can be determined from the Stokes parameters of light at the output of the POLMINT measured by a complete polarization state detector as functions of a mirror displacement. Applications of the POLMINT as an ellipsometer are also discussed.