A high resolution approach to estimating time-frequency spectra (TFS) and associated amplitudes via the use of variable frequency complex demodulation (VFCDM) is presented. This is a two-step procedure in which the previously developed time-varying optimal parameter search (TVOPS) technique is used to obtain TFS, followed by using the VFCDM to obtain even greater TFS resolution and instantaneous amplitudes associated with only the specific frequencies of interest. This combinational use of the TVOPS and the VFCDM is termed the TVOPS-VFCDM. Simulation examples are provided to demonstrate the performance of the TVOPS-VFCDM for high resolution TFS as well as instantaneous amplitude estimation. The simulation results show that the TVOPS-VFCDM approach provides the highest resolution and most accurate amplitude estimates when compared to the smoothed pseudo Wigner-Ville, continuous wavelet transform and Hilbert-Huang transform methods. Application of the TVOPS-VFCDM to renal blood flow data indicates some promise of a quantitative approach to understanding the dynamics of renal autoregulatory mechanisms as well as a possible approach to quantitatively discriminating between different strains of rats.