Abstract
We derive the random-phase approximation for spin excitations ingeneral multi-band Hubbard models, starting from a collinearferromagnetic Hartree-Fock ground state. The results are comparedwith those from a recently introduced variational many-body approachto spin waves in itinerant ferromagnets. As we exemplify forHubbard models with one and two bands, the two approaches lead toqualitatively different results. The discrepancies can be tracedback to the fact that the Hartree-Fock theory fails to describeproperly the local moments which naturally arise in acorrelated-electron theory.
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