| Summary: | In the paper a new analytic approach to the solution of the effective single-site problem in the dynamical mean field theory is developed. The approach is based on the method of the Kadanoff-Baym generating functional in the form developed by Izyumov et al. It makes it possible to obtain a closed equation in functional derivatives for the irreducible part of the single-site particle Green's function; the solution is constructed iteratively. As an application of the proposed approach the asymmetric Hubbard model (AHM) is considered. The inverse irreducible part Ξ<sup>-1</sup><sub>σ</sub> of the single-site Green's function is constructed in the linear approximation with respect to the coherent potential J<sub>σ</sub>. Basing on the obtained result, the Green's function of itinerant particles in the Falicov-Kimball limit of AHM is considered, and the decoupling schemes in the equations of motion approach (GH3 approximation, decoupling by Jeschke and Kotliar) are analysed.
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