We propose a framework of a quantum mechanical description of current driven tunnel junctions. Based on this description we predict several new effects. These effects can be observed for k,T i E, < e*/C, where E, = h/RC for a normal tunnel junction and ET = Ft.Ts /2 e for a Josephson junction, C being the junction's capacitance.Recent advances in the fabrication of small tunnel junctions [l] made it possible to attain the limit kn T < e2/C. In this letter we predict possible new observable effects in this limit. We base our prediction on a new quantum mechanical approach we propose for describing a current driven tunnel junction. Underlying our description is the observation that the response of an open system driven by a current source, I(t), is equivalent to that of a closed system (i.e., open-ended junction) subject to an external time-dependent voltage bias A(t), where A(t) =1(t).We consider both a current biased Josephson junction (JJ) and a normal tunnel junction (NJT), and predict the following effects:1. Voltage oscillations in dc current biased junctions (CBJ), both JJs and NTJs, with no dc voltage.2. Steps of dc voltage in a CBJ in the presence of microwave radiation ("inverse Shapiro steps"), for a discrete set of values of the dc current such that I/q = (n/m)f, where 4 is the elementary charge that tunnels and f is the frequency of the radiation. 5. The resistance of a current biased NTJ is unlike that of a voltage driven NTJ.We first consider a JJ. The standard approach is to assume that the charging energy 2e2/C is small, so that the probability of pairs tunneling across the junction is calculated using a degenerate perturbation theory [2]. The matrix elements of the tunneling hamiltonian in the basis of eigenstates of the operator n' (that measures the number of transferred pairs are then given bywhere EJ = wJ/2e. Next, the charging energy is added bywhere 4 = 2. Another useful basis is the eigenstates 119) of the phase operator which satisfy (19 In> = (2n)-lj2 eien (the phase operator i is the conjugate of A). From eqs. (1) and (2) it is easy to show that the hamiltonian for the unbiased junction is given by H=(e2/2C)q2fi2 + EJ(~ -COS 8) >