Based on the distinction of monetary effect and efficiency and taken the monthly data of 1999 . 12 - 2006 . 6 as sample , this paper studies the relations of integrated variables with the method of canonical correlation analysis , empirically tests the combined transmission efficiency of monetary policy based on multicomponent reaction models , and finally it indicates that , in the sample range , monetary operation tools married up better , the holistic transmission efficiency is relatively high , while there exists efficiency derogation in external transmission system , but also a big space of promotion 摘要在區(qū)分貨幣政策效果和效率的基礎上,本文以1999年12月2006年6月的數據為樣本,借助典型相關分析,對貨幣政策傳導中同屬性變量進行整組壓縮,研究整組變量間的關系,并結合交互影響的多元反饋模型,對我國貨幣政策傳導的綜合效率進行了檢驗,得出結論:樣本區(qū)間內,貨幣政策工具實現了良好的配合,整體傳導效率高,外部傳導存在著效率減損,但有很大提升空間。