Common or not, but you can do that if you want to avoid cold drafts through the sill and wall plate.
It's a matter of taste whether you want to go with horizontal or vertical first. It doesn't really matter. But if you start with horizontal, you can adjust at the sill and wall plate, and then when you go vertical, you can go all the way up and down with the studs. You just need to place noggings at the top and bottom between the studs.
