Classical unemployment occurs when real wages are kept above the market-clearing wage rate, leading to a surplus of labour supplied.

... the Classical theory of unemployment, the labour market is understood to be a single, static market that is characterised by perfect competition, spot ...

Unemployment results from the rigidity in the wage structure and interference in the working of free market system in the form of trade union legislation, ...

Classical economists believe that any unemployment that occurs in the labor market or in other resource markets should be considered voluntary unemployment.

By contrast, the classical component of unemployment, as usually defined, includes the effects of high real wages in reducing the quantity of output that firms.

This paper examines various unemployment equilibria in a fix-price model of an open economy with nontraded goods. The economy exports an internationally.

The classical theory, as analyzed by Pigou (1933) and Solow (1981), argues that the labor market consists of demand and supply of labor.

Classical unemployment (or real wage unemployment) relates to the effect of a sustained increase in real wages above the free market equilibrium wage rate.

The New Classical model posits that an efficient outcome is a consequence of free markets, which is self-regulating. They assume that in the long run, aggregate ...