No, but the point of the matter is, you will lift that pedal sometimes so that you don't accellerate at all, and at that point you will be engine braking. And that's more than you think too - just press the clutch instead and see how much less you slow down. Once you do, you're regenerating energy rather than just saving gas.
I thought about this more and I'm going to strengthen my claim: If you don't downshift then you're not losing anything in engine braking.
Regardless of the load, part of the fuel used in running an engine at, say, 2000 RPM is simply overcoming the friction, and you can see that with how much you have to hit the pedal to idle at that speed with the clutch disengaged. On a flat road, fuel is used to overcome that friction. Going downhill, you use less or zero. Just think about the energy flow. Some energy manifests itself as heat through the exhaust (carnot efficiency limits) and unused gas expansion. This will vary depending on the efficiency of the engine at different operating points (see BSFC charts), and will be affected by hills. Actually hills can benefit, because many engines (even the
VW TDI) are optimal at power outputs greater than that needed for level highway driving.
Some energy is used overcoming friction in the drivetrain, friction in the engine, air resistance, and rolling resistance. All these are the same for a given car and engine speed. It doesn't matter if fuel is going to the engine and driving the wheels or vice versa, as the work done is identical. Thus engine braking during downhill portions does not lose energy that you wouldn't already lose otherwise during flat driving, but of course this is only true as long as you don't have a higher engine speed due to a very steep hill speeding you up or downshifting to increase engine braking.
However, I suppose you could improve flat fuel economy by accelerating to 70 MPH, hitting the clutch and coasting down to 60, and repeating rather than staying at a level 65 MPH. You couldn't do this as freely on hilly terrain. But this isn't constant speed so my argument still stands.
I actually did this once with a van that was stuck in second gear, thus causing overheating on the highway due to high RPM. Cycling between accelerating and coasting in neutral let me manage, though rev-matching with an automatic was a bit unpredictable.