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We theoretically study dynamic properties of thin ferromagnetic films incontact with normal metals. Moving magnetizations cause a flow of spins intoadjacent conductors, which relax by spin flip, scatter back into theferromagnet, or are absorbed by another ferromagnet. Relaxation of spinsoutside the moving magnetization enhances the overall damping of themagnetization dynamics in accordance with the Gilbert phenomenology. Transferof spins between different ferromagnets by these nonequilibrium spin currentsleads to a long-ranged dynamic exchange interaction and novel collectiveexcitation modes. Our predictions agree well with recentferromagnetic-resonance experiments on ultrathin magnetic films.Comment: 15 pages, 3 figures, for MMM'02 proceeding

Dynamic exchange coupling and Gilbert damping in magnetic multilayers (invited)