We analyze the transmission and reflection of electromagnetic waves calculated from transfer matrix simulations of periodic arrangements of thin metallic wires. The effective permittivity and the absorption of the arrangements of wires are determined. Their dependence on the wire thickness and the conductance of the metallic wires is studied. The cutoff frequency, or effective plasma frequency, is obtained and compared with analytical predictions. It is shown that the periodic arrangement of wires exhibits a frequency region in which the real part of the permittivity is negative while its imaginary part is very small. This behavior is seen for wires with thickness as small as 17 microm with a lattice constant of 3.33 mm.