We propose a continuum model for the dynamics of particles in polymer matrices which encompasses arbitrary size ratios of the polymer and particle. We present analytical and computer simulation results for the mobility of the particles and the viscosity of the suspension for the case of unentangled polymer melts. Our results indicate strong dependencies of the particle mobility upon the polymer-particle size ratios and much reduced intrinsic viscosities for the suspensions. These predictions rationalize some recent experimental observations on the dynamics of nanoparticles in polymer melts.