Recent experiments indicate the possibility of a doubly-magic character for the nucleus ~46Gd (Z=64, N=82). In this work the results of a large-scale shell-model study on the nucleus 146Gd and its neighbouring nuclei 145Eu, ~4SGd, 147Gd and 147Tb are presented. The configurations taken into account include up to 2p-2h excitations for protons and/or neutrons. The calculated spectra and static moments are compared with the experimental data. Finally, the present results on shell closure in 146Gd are discussed in connection with those derived from a similar approach applied to the well-known doubly-magic nucleus 2~