I posted a question Models for fully correlated data where I asked about situations involving regression modelling of correlated covariates. I thought in standard regression, covariates can not be correlated (e.g. for the same patient, newer values of a variable x1 have to be independent from older values of x1 for this same patient) as this will result in multicollinearity.
Are there models which result which can handle correlated predictor/covariate variables? I take it that creating covariates based on lagged versions of the same covariates, and covariates based on lagged versions of the response are not allowed in GLM style regressions? Other than causing problems for the first observation for each patient (i.e. how can you have a lagged value for the first measurement?), this will likely violate assumptions?
Can someone recommend statistical models for these kinds of situations?