This paper presents results of frequency domain spectroscopy (FDS) measurements on oil-impregnated pressboard insulation, their analyses and use of the data for modeling high frequency response (FRA) of transformers. The dielectric responses were measured in a broad frequency range, i.e. from 0.1 mHz to 1 MHz, on model samples containing different amount of moisture. The responses were parameterized with terms representing dc conductivity, low frequency dispersion and Cole-Cole polarization mechanisms and they were thereafter used to model the FRA response of a three-phase transformer.