I couldn't find a similar macro which did the same trick, so I wrote one
myself:

(defun copy-and-insert-previous-line ()
  (interactive)
  (save-excursion
    (goto-line (1- (line-number-at-pos)))
    (copy-current-line))
  (yank))

It's quite useful for much of the typing I do.
-- 
Med Venlig Hilsen / Kind Regards,
Mads Jensen
Rubinsteinsvej 31,st.th
DK-2450 Kbh. SV
Denmark