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We propose a model with frequency-dependent lumped parameters to represent the behavior of laminated iron-core inductors that are used in switching converters, i.e., for excitation frequencies above several kilohertz. The model applies to laminated iron cores with air gaps. We show that the core parameters can be calculated by using the same analytical expressions as those valid for gapless cores if a properly defined equivalent magnetic permeability is introduced instead of the iron sheet permeability. We compare the inductor model parameters calculated as functions of frequency with those obtained by measurements for two test inductors. The behavior of the inductors showed that the effects due to the eddy currents in the laminated iron core and the turn-to-turn and turn-to-core stray capacitances become significant in different frequency ranges.