Certainly. Those parameters and the geometry they're in can be distilled into impedance (see: S-parameters). The larger the difference in impedance, the less power gets through (see: return loss). For microwave ovens you only really care about material properties at 2.4 GHz, since that is where the power is. I'm under the impression this was chosen because water has a resonance at this frequency, and absorbs a lot of power.