It is known that the Fourier transform $\mathcal{F}: L^1(\mathbb{R})\to C_0(\mathbb{R})$ is an algebra homomorphism from $L^1$ into a sub-algebra $\mathcal(L^1(\mathbb{R}))$ of the space $C_0$ (continuous functions that vanish at $\pm\infty$).
In particular $$\mathcal{F}(f*g) = \mathcal{F}(f)\cdot\mathcal{F}(g)$$ and instead of studying convolution equations in $L^1$ we may study multiplicative equations in the Fourier image.
Can we define some homomorphism space for wavelet transform https://en.wikipedia.org/wiki/Wavelet_transform