We investigate the electronic structure of the ferromagnetic 4f-metal
Gadolinium by use of a many-body evaluation of a generalized model of
magnetism, the one-particle part of which is derived from an ASW-LSDA
bandstructure calculation. A striking temperature-dependence of the co
nduction band states is traced back to a 4f-(5d, 6s) interband exchang
e. The conduction electron polarization (0.63 mu(B) at T=0) decreases
for T --> T(c) very similar to the 4f-magnetization. A red shift of th
e lower up-T-band edge of about 0.25 eV appears upon cooling from T=T(
c) to T=0. - The quasiparticle band-structure exibits a remarkable non
uniform magnetic behaviour at different positions in the Brillouin zo
ne, and in particular for different subbands. Weakly correlated (''s-l
ike'') dispersions show a ''Stoner-like'' T-dependence of the exchange
splitting. On the other hand, stronger correlated (''d-like'') disper
sions split below T(c) into four branches, two for each spin direction
. Their T-dependence mainly concerns the spectral weights of the quasi
particle peaks and not so much the energetic positions. An exchange ca
used splitting remains even for T> T(c).