A multicarrier transmitter and receiver uses a first inverse fast Fourier transformer for performing an Inverse Fast Fourier Transform (IFFT) on a parallel input data signal, an imaginary component filter for filtering out the imaginary component of an output signal of the first transformer and a real component filter for filtering out the real component of the output signal of the first. The multicarrier transmitter and receiver also uses a first polyphase filter having real coefficients. The first filter accepts output data from the imaginary component filter. The multicarrier transmitter and receiver also uses a second polyphase filter having real coefficients which are selected as the real coefficients of the first filter with the sign of each odd-numbered real coefficient inverted. The second filter accepts output data from said real component filter. A combined OFDM and wavelet multi-carrier transceiver is proposed sharing an IFFT block.