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The spectral properties of itinerant 2D systems with (nearly) ferromagneticground state are studied within the spin-fermion and the classical s-d exchangemodels. While the former model describes the effect of collective magneticexcitations on the electronic properties, the latter one considers the effectof local moments. We use the equation of motion approach combined with the 1/Mand 1/z expansions (M is the number of spin components, z is the coordinationnumber) to investigate spectral functions. In both the models the spectrumsplitting occurs at low temperatures T in the renormalized classical regime dueto strong magnetic fluctuations. For the interaction J between electronic andmagnetic degrees of freedom comparable to the bandwidth (theintermediate-coupling regime) the 1/z expansion predicts full splitting ofelectronic spectrum below some temperature T_s. At the same time, the spectrumremains only partly split in the 1/M expansion with the quasiparticle structurewhich becomes fully coherent at low T.Comment: 13 pages, 10 figures, RevTe

Spectral functions of two-dimensional systems with coupling of electrons to collective or localized spin degrees of freedom