We provide new insight into the analysis of N-body problems by studying a compactification $M_N$ of $mathbb{R}^{3N}$ that is compatible with the analytic properties of the $N$-body Hamiltonian $H_N$. We show that our compactification coincides with the compactification introduced by Vasy using blow-ups in order to study the scattering theory of N-body Hamiltonians and with a compactification introduced by Georgescu using $C^*$-algebras. In particular, the compactifications introduced by Georgescu and by Vasy coincide (up to a homeomorphism that is the identity on $mathbb{R}^{3N}$). Our result has applications to the spectral theory of $N$-body problems and to some related approximation properties. For instance, results about the essential spectrum, the resolvents, and the scattering matrices of $H_N$ (when they exist) may be related to the behavior near $M_Nsetminus mathbb{R}^{3N}$ (i.e. at infinity) of their distribution kernels, which can be efficiently studied using our methods. The compactification $M_N$ is compatible with the action of the permutation group $S_N$, which allows to implement bosonic and fermionic (anti-)symmetry relations. We also indicate how our results lead to a regularity result for the eigenfunctions of $H_N$.
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