First-principles approach to Non-Collinear Magnetism: towards   Spin-dynamics
  A description of non-collinear magnetism in the framework of spin-density functional theory is presented for the exact exchange energy functional which depends explicitly on two-component spinor orbitals. The equations for the effective Kohn-Sham scalar potential and magnetic field are derived within the optimized effective potential (OEP) framework. With the example of a magnetically frustrated Cr monolayer it is shown that the resulting magnetization density exhibits much more non-collinear structure than standard calculations. Furthermore, a time-dependent generalization of the non-collinear OEP method is well suited for an ab-initio description of spin dynamics. We also show that the magnetic moments of solids Fe, Co and Ni are well reproduced. 
S. Sharma, J. K. Dewhurst, C. Ambrosch-Draxl, S. Kurth, N. Helbig, S.   Pittalis, E. K. U. Gross, S. Shallcross and L. Nords...