Static density-density correlation function has been calculated for a spin-polarized two-dimensional quantum electron fluid by including the first-order exchange and self-energy corrections to the random-phase approximation (RPA). This is achieved by determining these corrections to the RPA linear density-density response function, obtained by solving the equation of motion for the single-particle Green's function. Resulting infinite hierarchy of equations (involving higher-order Green's functions) is truncated by factorizing the two-particle Green's function as a product of the single-particle Green's function and one-particle distribution function. Numerical results of correlation function are compared directly against the quantum Monte Carlo simulation data due to Tanatar and Ceperley for different coupling parameter (r_s) values. We find almost exact agreement for r_s=1, with a noticeable improvement over the RPA. Its quality, however, deteriorates with increasing r_s, but correction to RPA is quite significant.
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