We study the spectrum of a random matrix, whose elements depend on the eucl
idean distance between points randomly distributed in space. This problem i
s widely studied in the context of the Instantaneous Normal Modes of fluids
and is particularly relevant at the glass transition. We introduce a syste
matic study of this problem through its representation by a field theory. I
n this way we can easily construct a high density expansion, which can be r
esummed producing an approximation to the spectrum similar to the Coherent
Potential Approximation for disordered systems. (C) 1999 Published by Elsev
ier Science B.V. All rights reserved.