Methods based on the coupled-cluster (CC) Ansatz and most widely applied fo
r the computation of molecular properties and electronic structure are revi
ewed. The applications of each method are presented, and its performance is
evaluated. Following introductory remarks and a brief historical overview
of CC methodology and its applications, we first outline the scope of our r
eview, establish the required notation, and recall the foundations and orig
ins of the CC Ansatz. We begin with single-reference CC approaches, which h
ave greatly matured since the first ab initio study in early seventies, and
are currently used to solve many diverse problems. The handling of nondege
nerate closed-shell states being nowadays routine, we focus on open-shell s
ystems and the important role of spin adaptation, as well as on methods ext
ending or improving the ubiquitous CC method with singles and doubles (CCSD
). Multireference CC approaches still defy routine usage and are therefore
given only a cursory treatment. Their main purpose is to provide a basis fo
r the so-called state-selective, or state-specific, CC approaches that empl
oy a single, yet possibly multideterminantal, reference. Perturbative and t
he so-called quadratic configuration interaction methods are briefly addres
sed from the viewpoint of CC theory. We also make an attempt to assess and
interrelate numerous CC-based approaches to molecular properties, ranging f
rom those related to the shape of the potential-energy surfaces (geometry,
harmonic force fields, etc.) to properties characterizing the interaction w
ith electromagnetic fields (static moments, polarizabilities, etc.). We the
n conclude the methodological part of our review with a few comments concer
ning the computational aspects. The subsequent part, devoted to application
s, presents various examples that illustrate the scope, efficiency, and rel
iability of various CC methods, particularly those of recent provenance. We
focus on the general account of correlation effects, potential-energy surf
aces and related properties, ionization potentials and electron affinities,
vertical electronic excitation energies, and various static and dynamical
properties. The final section of this review attempts to summarize the stat
us quo of the CC methodology and its applications, as well as to ponder its
future prospects.