How to restrict number of cited authors in \citet or \citeasnoun

How to restrict number of cited authors in \citet or \citeasnoun

This is actually a follow up question to How do I truncate the author list
and substitute et al.? where I was advised to open a new question.
I would like to use \citet or \citeasnoun apparently depending on packages
natbib or havard in my text. I have several citation where I get a larger
number of authors printet in text which is annoying. I was hoping that
this could be easily solved and found the old thread where I was advised
to use natbib. Unfortunately natbib somehow does not work as descirbed and
tex still prints Ghosh, Levin, Macmillan, and Wright (2004) instead of
Gosh et al. (2004). I occasionally have the same problem.
\documentclass[12pt,a4paper]{article}
\usepackage{amsmath}
\usepackage{amsthm}
\usepackage{graphicx}
\usepackage{booktabs}
%\usepackage{harvard}
\usepackage{rotating}
%\usepackage{ngerman}
\usepackage[ansinew]{inputenc}
\usepackage[a4paper, left=3cm, right=3cm, top=3cm, bottom=3cm]{geometry}
\usepackage{multirow}
\usepackage{longtable}
\usepackage{natbib}
\begin{document}
%\bibliographystyle{econometrica}
blabla \citet{ghosh2004gold}
\bibliography{goldhedge}
\end{document}
Does somehow not work for me. The bibtex entry should be.
@ARTICLE{ghosh2004gold,
author = {Dipak Ghosh and Eric J Levin and Peter Macmillan and
Robert E Wright
},
title = {Gold as an inflation hedge?},
journal = {Studies in Economics and Finance},
year = {2004},
volume = {22},
pages = {1--25},
number = {1},
publisher = {Emerald Group Publishing Limited}
}
Thats actually somethign that has been bugging me forever.. Any ideas why
it does not work for me?