In this study we combine the experimental measurement data and the theoretical model of ejector to determine CO2 ejector component efficiencies including the motive nozzle, suction chamber, mixing section, diffuser as well as the total ejector efficiency. The ejector is modeled utilizing the distributed-parameter method, and the flow passage is divided into a number of elements and the governing equations are formulated based on the differential equation of mass, momentum and energy conservation. The efficiencies of ejector are investigated under different ejector geometric parameters and operational conditions, and the corresponding empirical correlations are established. Moreover, the correlations are incorporated into a transient model of transcritical CO2 ejector expansion refrigeration cycle (EERC) and the dynamic simulations is performed based on variable component efficiencies and fixed values. The motive nozzle, suction chamber, mixing section and diffuser efficiencies vary from 0.74 to 0.89, 0.86 to 0.96, 0.73 to 0.9 and 0.75 to 0.95 under the studied conditions, respectively. The response diversities of suction flow pressure and discharge pressure are obvious between the variable efficiencies and fixed efficiencies referring to the previous studies, while when the fixed value is determined by the presented correlations, their response differences are basically the same.