Simulations of microtubule oscillations have been obtained by a kinetic model including nucleation of microtubules, elongation by addition of GTP-loaded tubulin dimers, disassembly into oligomers, and dissolution of oligomers followed by nucleotide exchange at the free dimers. Dynamic instability is described by the on and off rates for dimer association in the growth phase, the rate of rapid shortening, and the transition rates for catastrophe and rescue. The latter are assumed to be completely determined by the current state of the system ("short cap hypothesis"). Microtubule oscillations and normal polymerizations measured by time-resolved X-ray scattering were used to test the model. The model is able to produce oscillations without further assumptions. However, in order to obtain good fits to the experimental data one requires an additional mechanism which prevents rapid desynchronization of the microtubules. One of several possible mechanisms that will be discussed is the destabilization of microtubules by the products of disassembly.