This paper focuses on the Layered Packet Erasure Broadcast Channel (LPE-BC) with Channel Output Feedback (COF) available at the transmitter. The LPE-BC is a high-SNR approximation of the fading Gaussian BC recently proposed by Tse and Yates, who characterized the capacity region for any number of users and any number of layers when there is no COF. This paper provides a comparative overview of this channel model along the following lines: First, inner and outer bounds to the capacity region (set of achievable rates with backlogged arrivals) are presented: a) a new outer bound based on the idea of the physically degraded broadcast channel, and b) an inner bound of the LPE-BC with COF for the case of two users and any number of layers. Next, an inner bound on the stability region (set of exogenous arrival rates for which packet arrival queues are stable) for the same model is derived. The capacity region inner bound generalizes past results for the two-user erasure BC, which is a special case of the LPE-BC with COF with only one layer. The novelty lies in the use of inter-user and inter-layer network coding retransmissions (for those packets that have only been received by the unintended user), where each random linear combination may involve packets intended for any user originally sent on any of the layers. For the case of $K = 2$ users and $Q \geq 1$ layers, the inner bounds to the capacity region and the stability region coincide; both strategically employ the novel retransmission protocol. For the case of $Q = 2$ layers, sufficient conditions are derived by Fourier-Motzkin elimination for the inner bound on the stability region to coincide with the capacity outer bound, thus showing that in those cases the capacity and stability regions coincide.