We develop an efficient method to calculate the third-order corrections to
the self-energy of the hole-doped two-dimensional Hubbard model in space-ti
me representation. Using the Dyson equation we evaluate the renormalized sp
ectral function in various parts of the Brillouin zone and find significant
modifications with respect to the second-order theory even for rather smal
l values of the coupling constant U. The spectral function becomes unphysic
al for U similar or equal toW where W is the half-width of the conduction b
and. Close to the Fermi surface and for U<W, the single-particle spectral w
eight is reduced in a finite energy interval around the Fermi energy. The i
ncrease of U opens a gap between the occupied and unoccupied parts of the s
pectral function.