The aim of this work is to use a recently developed statistical model of dispersions with nonhydrodynamic interactions to describe the linear viscoelastic properties of emulsions of Newtonian liquids. None of the existing models can describe the theological behavior of such systems, particularly the elastic properties, in the linear regime. We first present the results of numerical simulations of our model applied to emulsions. We show that taking nonhydrodynamic interactions into account allows to predict that emulsions of two purely viscous liquids have a complex viscoelastic behavior. We then compare the model to experimental results on oil/water emulsions, stabilized with ionic and nonionic surfactants. We find out that our statistical mechanical approach gives a much better description of the viscoelastic behavior of these samples than purely hydrodynamic models do. However, the elasticity observed is underestimated by our model. We indicate further theoretical developments which could improve the description of the viscoelastic properties of emulsions. (C) 2004 Elsevier Inc. All rights reserved.