We build discrete-time compactly supported biorthogonal wavelets and perfec
t reconstruction filter banks for any lattice in any dimension with any num
ber of primal and dual vanishing moments. The associated scaling functions
are interpolating. Our construction relies on the lifting scheme and inheri
ts all of its advantages: fast transform, in-place calculation, and integer
-to-integer transforms. We show that two lifting steps suffice: predict and
update. The predict step can be built using multivariate polynomial interp
olation, while update is a multiple of the adjoint of predict. While we con
centrate on the discrete-time case, some discussion of convergence and stab
ility issues together with examples is given.