Abstract
We show that the large negative magnetic contribution to the thermal expansion in ${\mathrm{DyCo}}_{2}$ and ${\mathrm{HoCo}}_{2}$ can be understood within the $s\ensuremath{-}d$ $(d\ensuremath{-}f)$ model. The Invar anomaly in these compounds appears to be a consequence of the metamagnetic properties of the Co sublattice, treated by ab initio calculations, and the rare-earth local moments coupled to it. It is found that all finite temperature dynamics of the Invar effect is exclusively governed by the magnetic excitations of the rare-earth moments.
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