  The femtosecond magnetization dynamics of a thin cobalt film excited with
ultrashort laser pulses has been studied using two complementary pump-probe
techniques, namely spin-, energy- and time-resolved photoemission and
time-resolved magneto-optical Kerr effect. Combining the two methods it is
possible to identify the microscopic electron spin-flip mechanisms responsible
for the ultrafast macroscopic magnetization dynamics of the cobalt film. In
particular, we show that electron-magnon excitation does not affect the overall
magnetization even though it is an efficient spin-flip channel on the sub-200
fs timescale. Instead we find experimental evidence for the relevance of
Elliott-Yafet type spin-flip processes for the ultrafast demagnetization taking
place on a time scale of 300 fs.
