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We revisit a problem of theoretical description of alpha-iron. By performingLDA+DMFT calculations in the paramagnetic phase we find that Coulombinteraction and, in particular Hund exchange, yields the formation of localmoments in e_g electron band, which can be traced from imaginary timedependence of the spin-spin correlation function. This behavior is accompaniedby non-Fermi-liquid behavior of e_g electrons and suggests using local momentvariables in the effective model of iron. By investigating orbital-selectivecontributions to the Curie-Weiss law for Hund exchange I=0.9 eV we obtain aneffective value of local moment of e_g electrons 2p=1.04 mu_B. The effectivebosonic model, which allows to describe magnetic properties of iron near themagnetic phase transition, is proposed.

Orbital selective local moment formation in iron: first principle route to an effective model