This paper provides a detailed description of the Eurace@Unibi model, which has been developed as a

versatile tool for economic policy analysis. The model explicitly incorporates the decentralized

interaction of heterogeneous agents across different sectors and regions. The modeling of individual

behavior is based on heuristics with empirical microfoundations. Although Eurace@Unibi has been

applied successfully to different policy domains, the complexity of the structure of the model, which is

similar to other agent-based macroeconomic models, has given rise to concerns about the reproducibility

and robustness of the obtained insights. This paper addresses these concerns by describing the exact

details of all decision rules, interaction protocols and balance sheets used in the model. Furthermore, we

discuss the use of a virtual appliance as a tool allowing third parties to reproduce and verify the

simulation results. The paper provides a systematic and extensive sensitivity analysis of the simulation

output with respect to a set of key parameters. Particular emphasis is put on the question which

parameter constellations give rise to strong economic fluctuations and high frequencies of sudden

downturns in economic activity.