  The explicit evaluation of linear response coefficients for interacting
many-particle systems still poses a considerable challenge to theoreticians. In
this work we use a novel many-particle renormalization technique, the so-called
projector-based renormalization method, to show how such coefficients can
systematically be evaluated. To demonstrate the prospects and power of our
approach we consider the dynamical wave-vector dependent spin susceptibility of
the two-dimensional Hubbard model and also determine the subsequent magnetic
phase diagram close to half-filling. We show that the superior treatment of
(Coulomb) correlation and fluctuation effects within the projector-based
renormalization method significantly improves the standard random phase
approximation results.
