  Using a simple theoretical model, we demonstrate the emergence of
odd-frequency pair amplitudes in conventional Josephson junctions both in the
absence of a voltage (DC effect) and in the presence of a finite voltage (AC
effect). In both cases, we find that odd-frequency interlead pairing emerges
whenever a Josephson current is expected to flow. Additionally, we show that
the interlead spin-susceptibility is directly influenced by the presence of the
odd-frequency pair amplitudes. Specifically, we find that the
spin-susceptibility is suppressed when the odd-frequency component is the
largest. By establishing a novel link between the physics of Josephson
junctions and odd-frequency pairing, this work demonstrates the importance of
odd-frequency pairing for understanding conventional superconducting systems.
