The dynamical, long-wavelength longitudinal and transverse
exchange-correlation potentials for a homogeneous electron gas are evaluated in
a microscopic model based on an approximate decoupling of the equation of
motion for the current-current response function. The transverse spectrum turns
out to be very similar to the longitudinal one. We obtain evidence for a strong
spectral structure near twice the plasma frequency due to a two-plasmon
threshold for two-pair excitations, which may be observable in inelastic
scattering experiments. Our results give the entire input needed to implement
the Time-Dependent Current Density Functional Theory scheme recently developed
by G. Vignale and W. Kohn [Phys. Rev. Lett. 77, 2037 (1996)] and are fitted to
analytic functions to facilitate such applications.Comment: 6 pages, 3 figure