Other than the very valuable ability to maintain its operations into the year 2000, few quantifiable benefits accrue to the firm - and overall productivity gains are reduced by the extra hours devoted to reprogramming and testing.
Conservative estimates suggest that the net effect of Y2K remediation efforts might shave a tenth or two a year off the growth of our nation’s overall labor productivity, and a more substantial effect is possible if some of the larger estimates of Y2K costs are used in these calculations.