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This paper examines the shared relay architecture for the wireless cellular network, where instead of deploying multiple separate relays within each cell sector, a single relay with multiple antennas is placed at the cell edge and is shared by multiple sectors. The advantage of shared relaying is that the joint processing of signals at the relay enables the mitigation of intercell interference. To maximize the benefit of shared relaying, the resource allocation and the scheduling of users among adjacent cell sectors need to be optimized jointly. Based on this motivation, this paper formulates a network utility maximization problem for the shared relay system that considers the practical wireless backhaul constraint of matching the relay-to-user rate demand with the base-station-to-relay rate supply using a set of pricing variables. In addition, zero-forcing beamforming is used at the shared relay to separate users spatially; multiple users are scheduled in the frequency domain to maximize frequency reuse. A heuristic but efficient scheduling and resource allocation algorithm is proposed accordingly. System-level simulations quantify the effectiveness of the proposed approach, and show that the incorporation of the shared relay can improve the overall network performance and in particular significantly increase the throughput of cell edge users as compared to separate relaying.