We use time-dependent spin-density-functional theory to study dynamical magnetic phenomena. First, we recall that the local-spin-density approximation (LSDA) fails to account correctly for magnetic fluctuations in the paramagnetic state of iron and other itinerant ferromagnets. Next, we construct a gradient-dependent density functional that does not suffer from this problem of the LSDA. This functional is then used to derive, for the first time, the phenomenological Gilbert equation of micromagnetics directly from time-dependent density-functional theory. Limitations and extensions of Gilbert damping are discussed on this basis, and some comparisons with phenomenological theories and experiments are made.
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