Phase fluctuations destroy the DC Josephson effect and replace the supercur
rent at zero voltage by a peak at small but finite voltages. We study the e
ffect of quantum fluctuations of the phase at zero temperature by accountin
g for a finite junction capacitance and an environmental resistance. The Jo
sephson peak is expressed analytically by two complementary expansions. Thi
s result establishes the connection between the regimes of classical phase
diffusion, Coulomb blockade and macroscopic quantum tunneling. (C) 2000 Els
evier Science B.V. All rights reserved.