This work presents research on structural and magnetic properties of epitaxial (Fe_t/Pd_4nm)₃₂ multilayers (MLs). The Fe layer thickness is varied from 1nm to 4nm, while all other parameters are kept constant. Structural investigation are made utilizing STM, RHEED, XRD, RBS and (HR)TEM. The RHEED and XRD investigations reveal that thin Fe layers (t _Fe < 2.5nm) exhibit on fcc-like phase with a high magnetic moment of 2.7 µ_B per iron atom. For Fe layers with thicknesses of t_Fe > 2.5nm the magnetic moment of Fe is 2.2 µ_B, which is in agreement with the value of bulk bcc Fe. From RHEED investigations we find that with increasing thickness of the Fe layer the unit cell of Fe is successively compressed in growth direction while its basal plane remains unaltered. In MLs with thin Fe layers with high magnetic moments the atomic volume of iron is comperable to the volume of the high moment phase in fcc Fe, the atomic volume of MLs with thicker Fe layers is close to the equilibrium value of bcc Fe. The mutual interplay of the tetragonal distortion, atomic volume and morphology and its influence on the magnetic properties of the MLs are discussed in this thesis.