Abstract
Magnetic dipole transition rates are calculated in the vicinity of 208Pb. The effects of core polarizatino and mesonic exchange currents, which seem to be the two main mechanisms to renormalize the nuclear M1 operator, are taken into account. The calculated rates are in impressive agreement with the recent measurements made by the Chalk River Group. The effect of exchange currents competes with that of core polarization in l-forbidden M1 transitions, but the former is negligible in allowed M1 transitions. The reason for this is clarified.
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