The politics of Australia take place within the framework of a federal parliamentary constitutional monarchy. Australia has maintained a stable liberal democratic political system under its Constitution, one of the world's oldest, since Federation in 1901. Australia is the world's sixth oldest continuous democracy and largely operates as a two-party system in which voting is compulsory. The Economist Intelligence Unit rated Australia a "full democracy" in 2019. Australia is also a federation, where power is divided between the federal government and the states and territories.