Beth Hill, author of The Magic of Fiction (available only as a $14 PDF download), has an informative two part post on The Editor's Blog titled Defining Genre, Part 1 and Part 2.
The paragraph-long definitions of each genre and sub-genre are succinct and precise. All writers who intend to pitch their projects to agents and other players in the commercial marketplace should be aware of how that market benchmarks their work. Short as it is Ms. Hill's definition for the "Literary" category addresses some of the core craft issues we all grapple with.
I would be willing to buy a drink for anyone willing to share a copy of the PDF with me.