Based on a tunneling Hamiltonian description, we calculate the Josephson,
normal and interference currents between two Bose-Einstein condensates
described by the Bogoliubov theory. The dominant Josephson term is of first
order in the tunneling with a critical current density proportional to the
ground state pressure. In contrast to superconductors, the normal current
remains finite at zero temperature. We discuss the dynamics of the relative
phase in a semiclassical approximation derived from an exact functional
integral approach, which includes the interaction effects at fixed total
particle number. It is shown that the normal current leads to a damping of the
Josephson oscillations and, at long times, eliminates the macroscopic quantum
self trapping predicted by Smerzi et.al. Finally we give estimates for an
experimental realization of Josephson tunneling in cold atomic gases, which
indicate that coherent transfer of atoms might be realized with a $^{23}$Na
condensate.Comment: 13 pages, 5 figures, RevTeX, largely extended version of earlier
manuscrip